Diamond Circle Capital Plc, a closed-ended investment company formed to invest in large high-quality polished physical diamonds, announces yesterday (June 18) the launch of its initial public offering (IPO) and its intention to seek a listing on the London Stock Exchange (LSE). If ever, this will be the first ever LSE-listed diamond fund public offering.
According to its prospectus, the company's investment objective is to produce long-term appreciation of its portfolio of diamonds. It intends to create a portfolio of polished high-quality diamonds, comprising of white diamonds and rare colored diamonds, with a minimum investment of around US$1 million per individual stone.
The company intends to use at least 90% of the IPO's net proceeds for diamond acquisition, while the remaining percentage of the net proceeds is intended to be invested in Sharia-compliant products and used for working capital purposes.
For a more detailed information, you may visit the following link and read the prospectus: http://www.advfn.com/news_Diamond-Circle-Capital-IPO_21066340.html
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