AWDC CAFE: with Cormac Kinney from Diamond Standard (ONLINE)
ABOUT DIAMOND STANDARD:
Diamond Standard has confidential approval to file an exchange traded product (“ETP”) holding our commodities on a major North American stock exchange. Diamond Standard commodities are already U.S. CFTC “Good for Delivery,” produced under regulatory supervision and Deloitte audit, and consume the full range of natural diamonds between 0.18 to 2.05 cts.
For the first time, investors can easily allocate to “natural diamond” as an asset class, and investor demand will benefit the entire supply chain: mine, manufacturer, retailer and consumer. To attract institutional interest, bankers advise us to launch with at least $500 million in assets before the IPO.
Using ETP shares as payment, Diamond Standard proposes to acquire $1 billion of natural diamonds from the industry, absorbing “excess inventory” that may otherwise sit unsold. The participants in the launch have exclusive first right to sell diamonds to the ETP for three years.
The catch: vendors receive shares (restricted from sale for one year) in lieu of cash, and only sell diamonds to the ETP for cash after the IPO in 3-6 months. Participants will also acquire equity in the ETP management company. So far we have Non-Binding Indications of Interest from 16 sightholders and welcome all vendors to participate, with a minimum of $250,000 of goods.
PROGRAM
Date: Wednesday, 11 Septmeber 2024 - 12:00 - 13:30
11:55 Start dialing in / clicking on the link in the Zoom invitation
12:00 Start Webinar Diamond Standard
13:30 End
This is an online webinar. The confirmation mail will include a link and instructions on how to join.
