Qannas Investments Limited
Background and business issues
The PLC Advisory team in Corporate Finance has acted as Nominated Adviser to Qannas Investments Limited ("Qannas" or the “Fund”) on its $18.5m placing and admission to AIM.
Qannas is a new, close-ended investment fund established to target investments predominantly in the Gulf region where asset vendors are either liquidity constrained or seeking to re-position investment portfolios.
Our role and approach
Deloitte was originally mandated by the Fund’s investment manager, Abu Dhabi Capital Management, a Cayman-domiciled investment manager with an investment team based in Abu Dhabi. Our role included:
- advising on the location (Jersey) and structure (closed-ended investment company) of the Fund;
- assisting in sourcing directors and ensuring appropriate corporate governance practices were established;
- identifying and selecting suitable brokers;
- preparing key documentation including presentational materials, legal agreements and the admission document;
- advising on appropriate fee structures;
- ensuring appropriate due diligence was undertaken on the proposition; and
- liaising with the London Stock Exchange.
Qannas secured $18.5m of investment and was successfully admitted to AIM in March 2012.