Global-e set for blast -off
Global-e bonds chief operating officer Philip Markwick is predicting the company's first prize draw of US$25,000 will be made in about a fortnight when the bonds reach the minimum subscription level.
Wednesday, May 24th 2000, 12:00AM
To get the scheme under way Global-e needs to sell 25,000 of its US$1062 bonds. (It can sell up to one million bonds in its first issue).
Markwick says the bonds have been marketed in Asia, notably Taiwan and Hong Kong.
Once the minimum subscription level it reached Global-e will start its six-figure television advertising in New Zealand featuring media man Brian Edwards.
Markwick says the television campaign has been held off in New Zealand because of the poor press coverage Global-e received in the New Zealand Herald.
Markwick pitched Global-e to delegates at the Society of Independent Financial Advisers last weekend.
Global-e is planning to use advisers in New Zealand as its main mean of distribution.
Global-e has done some work with focus groups to determine who is most likely to buy the product. Women seeking excitement, who tend to be older, were the best prospects of the four groups studied. Young, online professionals and serious male investors over 40 were similarly ranked, while gamblers were less likely to buy the bonds.
Global-e says the bonds have been used by businesses in Asia as a way of rewarding staff.
A company would buy a bond and then allocate it to individual staff on a monthly basis. If the bond won any of the daily prize draws then the money would be paid to the employee.
Markwick says part of the money raised in the Global-e issue will be used to develop an Internet portal for bondholders.
The first ventures will include a health and an educational service.
The health service will provide bondholders with information about illnesses and the best place to seek treatment for them, plus it will have facility where people can find out if any of the medicines they are taking are likely to interact with each other.
The educational service will provide information about courses available.
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