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RAPAPORT... Business advisory firm Global Equity International Inc. said that Dubai-based ATC Enterprises DMCC agreed on introducing a pre-IPO (initial public offering) capital strategy, with the ultimate intent of listing shares on a public stock exchange. The business firm described ATC Enterprises as a diamond trading company that holds one of six operative licenses in Angola, permitting it to source, trade and export rough diamonds from artisanal operators. ATC plans to establish a chain of diamond buying stations in Angola, two of which are already operational, and it is currently in negotiations to acquire two more, according to Global Equity. On a weekly basis, ATC ships cash to the stations to make diamonds purchases and the stones are returned to the head office by the government's Diamond Security Corps. In addition, ATC recently agreed to an offtake of Oena diamond production in South Africa from Tango Mining Ltd. for a $500,000 unsecured one-year convertible note. Peter Smith, the CEO of Global Equity, said, "ATC operates in a very lucrative and challenging environment, where they have forged a niche in the market, being the conduit from Angola to Dubai. Being a Dubai-based business -- in the ever growing Dubai Diamond Exchange -- is a great advantage for ATC within our network. We can clearly see the company growing over time and becoming a leading player in the exchange. They have a wealth of experience, with senior management -- being from some of the largest global diamond houses, including De Beers. With a market that is forecast to have demand outstrip supply within the next two decades, ATC has the potential to be the jewel in the crown of our company." Global Equity Partners holds significant long-term equity positions in the companies that it represents, according to its statement.
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