Asian equity-linked shares.

The BSX said the 100,000 Series 1 TWI FRELS (Fleming Redeemable Equity Linked Shares) and up to 212,000 Series 2 POSCO FRELS were introduced for listing under the restricted marketed provisions of the BSX.

Shares may be distributed to qualified investors only, and may not be traded in lots with an initial value of less than $100,000.

The Fleming Redeemable Equity Linked Shares have been issued by Fleming International Equity (Bermuda) Ltd., incorporated here last July.

The Series 1 TWI FRELS provide investors with a return linked to the performance of the Taiwan Stock Exchange Capitalisation Weighted Stock Index, a market capitalisation weighted index composed of 382 stocks reflecting the performance of the Taiwan Stock Market.

The Series 2 POSCO FRELS are related to the ordinary shares of Pohang Iron & Steel Co. Ltd., a South Korean listed company, and are designed to provide investors with a return based on the value of these shares.

Both series were sponsored for listing by Matheson Investment Management (Bermuda) Ltd.

BSX listing manager Mary Sousa said: "The listing of these FRELS fits into the Exchange's business strategy of offering enhanced visibility to issuers developing innovative investment products...''