Bank Melli Iran Investment Co. (BMIIC) presents the First Persian Equity Fund, a Cayman Islands exempted company with limited liability, offering of up to 300,000 Participating Shares of EUR 1,000 Each. The following are extracted from the Cayman Islands Offering Memorandum & a presentation created by Bank Melli Iran Investment Co.

Bank Melli Iran Group (BMI) will establish a Cayman Authorised Investment Fund by way of contract in accordance with the prospectus and subscription agreements. The FPEF is subject to the special Cayman Collective Investment Scheme Regulations.

Investors will purchase units in the Fund. Initial Fund value 300 million euro at first and final closing. BMI subscribe for 15 million. Proceeds will be used to buy listed and unlisted (Pre IPO only) securities in Iran some of which are currently held by BMI.

The investment manager will be Melli Holding International (MEHR), a company wholly owned by BMIIC and registered in the DIFC in Dubai . MEHR will be advised by Bank Melli Iran Asset Managers based in Tehran.

Source » opalesque