in Argentina, has become the latest company to list on the Bermuda Stock Exchange (BSX).

Fleming International Equity (Bermuda) Ltd. is also listing its Series 1 KOSPI 200 Fleming Redeemable Equity Linked Shares on the BSX.

According to a Campos prospectus, the company will purchase or lease farm land, improve it, and produce agricultural products.

"A portfolio of land will be developed to diversify against weather-related risk (through insurance and/or geographical diversification); price-related risk (through hedging and forward selling); and crop-specific risk (through producing several different cash crops),'' the prospectus states.

The Bahamas-registered company will first list its seven percent cumulative convertible preferred shares on the BSX. The company's prospectus also states it will list the common shares as well, but those haven't been approved yet.

The company is hoping to raise about $8.3 million from the offerings, which close on October 15.

The company's capital also includes convertible found shares and warrants.

The money raised from the BSX listings will be used to buy 2,000 hectares in Tucuman, Argentina, and to rent another 11,000 hectares of land in Salta, Tucuman, and the province of Buenos Aires. The company will produce crops such as soybean, corn, and sunflower, and raise cattle.

Company founder Jorge Gonzalez, who owns 23 percent of the shares currently outstanding, is expected to hold about five percent after the offering. He also has an option to purchase 351,563 founder shares. His total holdings translates into a 30 percent ownership before the offering, and will dilute to about seven percent afterward.

Mr. Gonzales founded investment bank firm Aguirre & Gonzalez S.A. He was formerly with the National Development Bank, where he was in charge of evaluating investment projects in petrochemicals, pulp and paper, and aluminium. He is the former under-secretary of finance and oversaw the renegotiation of Argentine foreign public debt during 1985 to 1987.

The minimum initial investment in the company is set at $100,000. The investor must be an accredited investor, a definition which includes individuals with a minimum net worth of $1 million.

BSX chief operating officer Greg Wojciechowski said the listing of Campos raises the number of international equity listings on the exchange to 15. The BSX has also approved the listing of Flemings Redeemable Equity Linked Securities. The company's will issue redeemable equity shares the performance of which are linked to the South Korean stock exchange.