Diamond Investment Firm Seeking London Listing
June 19, 07
The newly formed Diamond Circle Capital, which plans to invest in large, high-quality polished diamonds and create a polished diamond portfolio, announced the launch of its initial public offering (IPO) and its intention to list on the London Stock Exchange (LSE), making it the first ever London-listed diamond fund.
Diamond Circle Capital will incorporate rare colored and white diamonds, focusing on the high-quality segment of the market, with a $1 million per stone minimum investment. The intention is to offer investors a relatively low-cost exposure to the diamond market.
According to the LSE, the company intends to raise approximately $400 million through its IPO.
Diapason Commodities Management will be managing the daily workings of Diamond Circle Capital’s diamond portfolio and its other assets.
"We are delighted to be the first pure-play listed diamond investment fund offering, providing investors unique access to the high-quality diamond market,” Stephan Wrobel, a partner at Diapason said.
“The fundamentals of the diamond market provide a very positive backdrop, with a marked increase in demand coming from new markets, supply constraints in the diamond mining industry and inventories of diamonds at historically low levels,” he added.