Intercapital Invest brokerage company launched the Initial Public Offering (IPO) for the closed-end investment fund iFond Gold, which will invest in shares of mining companies listed on foreign stock markets. The fund aims to invest 40 percent of its resources in Gabriel Resources shares, which runs the Rosia Montana gold mining project, as well as in European Goldfields, which runs the Certej gold mining project in Apuseni mountains in Romania. The Rosia Montana gold mining project in Romania is still awaiting permits to start operations. The Certej mining project is in a similar situation, awaiting for the environment permits.

10,000 fund units will be up for sale for RON 202 each and the issuance can be increased to 50,000 fund units. The IPO offer will be on between November 9 and 29. Investors can buy the fund units from the Intercapital Invest headquarters, BRD units and any other authorized distributors.  The fund managers hope to raise at least RON 2 million (around EUR 500,000) from this IPO. Intercapital Invest also launched the iFond Financial two months ago, the first closed-end investment fund in Romania. The IPO raised RON 8 million – around EUR 1.8 million.

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