By Fred Bristol, CEO
You might have seen our email earlier this week about the upcoming launch of our secondary market – on February 1st. I just wanted to take a little of your time to explain why we’re introducing this facility and what it could mean for you.
What is a ‘secondary market’ and what will Brickowner’s do?
A secondary market is a place where investors can offer for sale some or all of an investment they already own, and can buy shares of investments being offered for sale.
As you know, your investments on the Brickowner platform have a fixed term and offer no liquidity. The secondary market will provide a place where you can list shares in investments funded on the Brickowner platform for sale before the end of the investment term so that other Brickowner users can buy them.
This could give you access to invested funds before the end of that investment term – although posting an investment on the secondary market does not guarantee a sale. It will also allow you to access investment opportunities you might have missed, or to add to your position in an investment you already hold.
How might Brickowner’s secondary market benefit you?
Many of us need, at some point in our lives, to raise funds for expected and surprise expenses. They could be needed for a deposit on a house, to pay for a child’s education, to refurbish or repair a part of a property, to buy a car or something smaller, like a replacement boiler. So if you need to raise capital, the secondary market could enable you to exit your investment before the end of the fixed term.
We’re sure you’ll have lots of questions on topics like fees, the pricing of shares, how to list shares and more. So we’ve tried to pre-empt as many as we can in our FAQs – just click the green button below.
We’ve been working hard for nearly two years to get from the idea to launch – it’s become a bit of a personal passion! – but we know there are bound to be gremlins. So when our secondary market has launched on February 1st, please let us know if you can see any ways in which it could be improved. In the meantime, please feel free to contact us with any questions you might have.
Email us at email@example.com.
Not all investments may be made available on the secondary market. The ability to buy or sell shares will depend on demand. It can be difficult to find a buyer or a seller and no assumptions should be made that an early exit will be available because the secondary market exists. Brickowner does not provide advice to you and the availability or otherwise of an investment on the secondary market does not indicate any form of recommendation.
Brickowner may dictate the price at which transactions may be conducted on the secondary market or may otherwise impose restrictions on the prices that investors can buy and sell investments. Brickowner shall act in good faith in imposing such restrictions to ensure that the pricing is reasonable for both buyers and sellers based on its current knowledge, but beyond acting in good faith, Brickowner accepts no responsibility for whether the pricing it imposes on transactions represents fair value and in entering into a transaction, it is the responsibility of investors to seek independent advice if they have doubts about the value of any transaction they wish to enter into.
The availability of the secondary market is not guaranteed to investors when they buy investments on the primary market. Brickowner is not obliged to provide a secondary market service and does so at its own discretion. We reserve the to suspend or terminate the secondary market at any time.