The MyFarm dairy share trading platform has registered its
first sale, a parcel of shares in the Gold Creek dairy farm
near Gore changing hands for $53,000.
Last week the first sale of 53,000 shares at $1 each was
concluded on the Gore property, and a new bid was lodged
yesterday, offering $1 for anyone selling 50,000 shares.
This is the only way smaller investors can have direct
exposure to dairy farming.
There is a $20,000 minimum entry level, but units can be
traded on an open market.
The MyFarm trading platform is a registered private trading
platform with Unlisted, which has only recently gone live.
Craigs Investment Partners broker Peter McIntyre said the
first share sale was a ''step forward'' for the new platform.
MyFarm wanted to improve liquidity in dairy farm investment,
for both farm operators and investors.
MyFarm separately manages almost 50 farms, mostly dairy,
worth about $500 million, but has floated two, separate,
stand-alone ''collective investment vehicles'' (CIV) which
pool smaller public funds into a larger investment.
At the Gore property, GCF Investments is the CIV which holds
25.4% of the units in Gold Creek Ltd Partnership, a Southland
dairy farm syndicate established in December 2013.
On another MyFarm property, PRD Investments, is the CIV and
largest unit holder in Poplar Road Dairy LP, a Canterbury
dairy farm syndicate which was established in August 2013.
There is a bid on the MyFarm platform for PRD Investment
units, offering $1 for any 50,000 share block put up for