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
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