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by Stockwatch Business Reporter

The TSX Venture Exchange closed up 1.22 points to 523.95 Friday, ending the week down 10.33 points.

Salim Ansari has filed a preliminary prospectus to list his first capital pool shell, Nurcapital Corp. Ltd. Bay Street broker-dealer All Group Financial Services Inc. is in charge of selling the IPO of between two million shares and 9,975,000 shares at 20 cents. This is the second time that Nurcapital has filed a preliminary prospectus. It filed the first one in May, 2015, followed by a final prospectus in July. It appears that Mr. Ansari was unable to drum up enough investor interest in his shell during the summer, because the new prospectus has lowered the minimum offering size to two million shares from five million. All other terms of the IPO are the same.

Mr. Ansari, 70, is Nurcapital's largest shareholder with 600,000 of its 1.05 million escrow shares, and he is the chief executive officer and a director. He is also on the board of All Group Financial, the agent for Nurcapital's IPO. Mr. Ansari owns An-Nur (Ontario) Cooperative Corp. Ltd., which offers real estate financing and investments that comply with Islamic sharia law, meaning all mortgages and investments are interest free. Fortunately, there are Allah-approved ways to make money besides charging interest. For example, a home loan provider may charge a fixed, agreed-upon markup.

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