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Swettenham Breeding Venture #1 Subscribed |
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Swettenham Stud is pleased to announce that its Breeding Venture #1 has met its minimum subscription level. Swettenham proprietor Adam Sangster described the acceptance of the venture, the first of its kind that he had promoted as "very satisfying". Adam Tims, a partner at specialist horse industry financial advisors Stable Connect was responsible for guiding the offer through the strict rules imposed by the Australian Securities and Investments Commission. "I think this highlights the fact that a well constructed offer like the Swettenham Breeding Venture #1 can succeed despite the difficult investment climate in the thoroughbred industry", he said. The offer provides investors with almost immediate cash flow, with the first three foals produced by the mares to be sold at the November Breeding Stock Sale in Kentucky. "Two of the imported mares have now arrived in Australia and are close to leaving quarantine", Sangster said. While the venture has raised the minimum subscription of $1.5 million, a few units are still available from the total fund limit of $2 million. "Given the success of this venture, we're already planning the next one", Sangster said. Swettenham and Stable Connect expect that the Swettenham Breeding Venture #2 will be open for subscriptions before the end of the year.
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