C.I.C.

Closed-end Investment Companies

A Closed-end Investment Company (C.I.C.) is a company formed as a Greek Soci?t? Anonyme with the sole purpose that of participating in the capital structure of other companies, by investing primarily in shares and bonds of non-listed companies.

A C.I.C. is permitted to invest in:

  • transferable securities (shares, bonds, warrants),
  • UCITS units,
  • UCI units (under conditions),
  • money market instruments and cash deposits.

A C.I.C. is formed as:

  • a Greek specialized S.A. which issues registered shares 
  • serving as a closed-end collective investment scheme
  • with a minimum share capital of € 300,000
  • with no prior license of operation from the Hellenic Capital Market Commission (HCMC)
  • under the condition that it will get its shares admitted to trading
    • on a Regulated market or a Multilateral Trading Facility, within 24 from establishment, with 24 months possible extension granted by HCMC
    • if within this time frame shares are not listed, C.I.C. has to get dissoluted
  • the safekeeping of the portfolio assets is delegated to a Custodian
  • after the listing of the shares on a Regulated Market or the admission to trading on an M.T.F. the C.I.C. is supervised by HCMC 

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