Business Services Industry
Pioneering fund plans to use barter and cash.
Australasian Business Intelligence, May, 2006
Byline: Florence Chong
May 03, 2006 (The Australian - ABIX via COMTEX) -- Australian barter exchange group BBX intends to launch a property investment fund using a combination of cash and barter currency. BBX plans to float the $A100m BBX Property Fund on the Newcastle Stock Exchange in August 2006, with a possible listing on the Australian Stock Exchange in 2007. BBX wants to raise $A30m in cash and $A70m in "trade dollars", which are used in barter trade to purchase and sell goods. The fund will purchase property throughout Australasia using a combination of 33 cash, 33 barter currency and 33 debt. Investors using trade dollars to invest in the fund will have 50 of their investment converted into real dollars in the first year, with the remainder to be...
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