Forestry fund seeks £3m

The fifth Irish forestry fund aims to raise £3 million (€3.8 million) by offering 6,000 shares at £500 each to investors. The money will be used to purchase land suitable for forestry in the Republic. Using current forest grants, the land will be planted at no charge to the fund and, when the forest matures in 30 years, it will be sold to the highest bidding mill. The fund will then be wound up, with all the profits being distributed to the preference shareholders.