MyFarm $2m dairy farm investment IPO launched

A fifth initial public offering has been launched by MyFarm, this time to raise up to $2 million to invest in a dairy farm in North Canterbury.

In the past 18 months, more than 100 people have invested a total of $8.5 million in dairy farm syndicates through MyFarm's ''collective investment vehicles'' (CIVs), which are separate limited liability companies.

The latest CIV is the Te Pahau Limited Partnership, a 295ha farm in the Hurunui district milking 990 cows using a three-year-old 60-bale rotary cowshed, with automation. The offer closes on July 2.

The total purchase price is $19.8 million, to be paid using $14 million of investor capital and $5.85 million of borrowed money.

CIVs are open to members of the public for a minimum of $20,000, while MyFarm's other syndicates require a minimum investment of $250,000.

The CIV shares are tradeable via MyFarm Trading, a private market on the Unlisted trading platform.

MyFarm has $550 million of assets under management around the country, in the form of 47 dairy farms and six sheep and beef farms.

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