The public share offering conducted by closed-end investmentfund iFond Gold, which offers investors the possibility ofinvesting in Romania's gold-bearing projects, has attracted over 2million RON from investors, being fully subscribed four days aheadof the end of the subscription period.
The manager of the fund is supplementing the offering to a maximumof 10.1 million RON.
"iFond Gold is the first local product to offer access to investorsto the gold mining industry. The volume of subscriptions shows,however, that there is money on the market. The big problem of thecapital market is the low number of products that can stir interestamong investors," said Adrian Lupşan, deputy general manager ofbrokerage firm Intercapital Invest, run by Răzvan Paşol.Intercapital brokers iFond Gold's offering.
Around 60% of the cash raised as part of the offering willinitially be invested in shares of Gabriel Resources (40%) andEuropean Goldfield (20%), which want to mine the big gold depositsin Romania in Roşia Montana and Certej, with the rest to beinvested in other similar projects around the world. The offeringends on Monday, November 29th.
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