John Bridgeman Limited announced its intention to create a new listed investment company, Benjamin Hornigold Limited (Benjamin Hornigold), for which it will act as investment manager. The aim of Benjamin Hornigold will be to provide investors with access to a portfolio that John Bridgeman Limited. This could include equities, currencies, bonds, derivatives and commodities. The company believe that, by identifying, assessing and selecting only its best ideas, the company will be able to create a concentrated portfolio which it believe is likely to deliver higher returns than a typical diversified equities portfolio. Although the final decision to proceed with the launch of Benjamin Hornigold is subject to market conditions, it is expected that a prospectus for the Benjamin Hornigold listing raising $15 - 100 million, would be lodged with ASIC in the first half of current year of 2017. The company intends that eligible Henry Morgan Limited shareholders will have the opportunity to subscribe for shares under a priority allocation. Applications for shares will only be able to be made by completing application forms accompanying the prospectus for the offer.