A Report in Financial Times said that Diamond Circle Capital plc, a closed-ended investment company managed by Diapason Commodities Management, made to invest in big size high-quality polished diamonds has postponed its $400 million initial public offering on the London Stock Exchange’s main market following a unenthusiastic response from potential investors.
The idea even after attracting lot of interest from investors, not many were willing to pump in money as they struggled to understand the concept. However, there was no reason provided by the company to LSE for the delay.
It was the first ever London-listed ambitious diamond fund intended to build a portfolio of polished diamonds worth $1 million per individual stone that would be held by the Swiss bank UBS Ltd.
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