European property investment company Ciref Europe Ltd. has seen the listing of 49,999,000 of its Class A shares approved by the Bermuda Stock Exchange Index (BSX).

Ciref Europe, which was incorporated at the start of May 2007 in the British Virgin Islands (BVI) under the provisions of the Business Companies Act of 2004 and the Mutual Funds Act of 1996, was listed in May this year.

The shares are to be so distributed to investors under the laws of BVI by Beacon Fund Advisors and are subject to a minimum subscription of £100,000.

1,893,379.39 shares have been subscribed and issued to date of which 1,855,208.33 shares are held by Ciref Ltd., the AIM-listed property investment company.

The fund objective is to invest in a diversified portfolio of commercial properties situated in Europe. The investments will be in the form of equity and sub-ordinated loan notes into special purpose entities that will in turn invest in property and/or property related securities on a leveraged basis.