Public Relations Company

 
Public Relations Company  
 
MEDIA RELEASE 12 August 2005

BBX debuts on ASX
BBX Holdings Ltd. (BBX) will debut on the Australian Stock Exchange at 11am EST today following a successful IPO, which closed oversubscribed and raised $6.85 million at 25cents per share, which was above its target of $6 million.

There will be 27.7 million shares quoted, issued at 25 cents.

BBX is Australasia’s first publicly listed barter exchange manager and it is also the first time that a company has raised shares in both cash and trade dollars, which is a significant boost for the barter exchange industry.

Managing Director Michael Touma has previously commented that the float will put BBX in a strong position to realise its full market potential.

“In Australia, barter or the use of trade dollars has enormous potential, especially in sectors of the economy where there is an over-supply problem, and that can range from retail through to real estate,” said Touma.

BBX members earn trade dollar income by selling their goods and services to other members of the exchange and are then able to use this income to purchase other goods and services from within the trading group, thereby improving cash flow by reducing their reliance on cash to make payments. Trade credits generated by members of the exchange have been utilised by the members to invest in the management company through the public listing.

Since 1993 the Exchange has expanded throughout Australia and New Zealand, partly driven by several successful acquisitions, including Barter Trading Group (BTG), IBEX New Zealand, Network Barter Company, Tradebanc International, Tradecard NZ and Universal Trader’s Exchange.

The terms of the issue of shares in BBX Holdings Limited is set out in the Prospectus, dated and lodged with ASIC on 11 May 2005.

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Released for BBX by Dennis Rutzou Public Relations.
For further information please call David Lizzio
or Dennis Rutzou on (02) 9413 4244.
For interviews today call David Lizzio on 0402 259 830



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