I have just received an email inviting me to invest in an IPO for NEW ZEALAND Rural Land Co. Looking at how it is structured I don't think I will try for any shares ahead of the IPO, But if shares were available for The Manager I would in straight away.

The Manager is entitled to fees from NZRLC, being (all GST exclusive).
• a management fee of 0.50% per annum of NZRLC’s Net Asset Value.
• a performance fee of 10% of any increase in NZRLC’s Net Asset Value per Share from one financial year to the next.
• a transaction fee of 1.25% of the acquisition or divestment value of any rural land that NZRLC acquires or disposes of.
• a lease fee of $30,000 for each lease entered into by NZRLC.

https://www.directbroking.co.nz/Dire...12bf3c6b00f86e