Amiworld Inc., it announced yesterday.

It has approved the listing of up to 4,500 class B non-voting common shares of Amiworld on the mezzanine market of the exchange subject to the closing of the company's $4.5 million private placement.

Amiworld, incorporated in the state of New York, was formed to invest primarily in real estate along the eastern seaboard of the US, as well as other North American regions and in the Caribbean.

The company has plans to acquire properties such as hotels, conference centres and golf resorts lacking proper management.

It aims to apply its management skills to the properties, establish improved operating performance of the properties and then look to sell them onwards.

The issue for listing on the mezzanine market which is for securities that are aimed at qualified individuals or institutions with at least $100,000 to invest or who otherwise meet one of the BSX's tests for suitability. Voyager Financial Services Limited is the lead sponsor for the listing, while Tremont Capital Limited is co-sponsor.

BSX listing manager James McKirdy said Amiworld was a good example of the type of company for which the growing mezzanine market was originally developed.

"The BSX's mezzanine market is designed to provide new high tech and other development stage companies with a listing venue that offers proper regulatory oversight and potential for access to a sophisticated investor base,'' he explained.

Amiworld CEO Mamoru Saito said the company was honoured to be part of the BSX which he described as "dynamic and highly respected''.

"We plan to be part of the Bermudian business community for many years to come,'' he said.

Voyage Financial Services Ltd. managing director Paul Lemmon said he was pleased Amiworld Inc. chose the BSX for listing their shares which he hoped would "yield more Japanese interests in Bermuda''.