independent

Thursday 17 April 2014

Irish horseflesh trader picks tough time to go to market

An enterprising Irish company is entering the horse trade – but not to produce lasagne filling.

Sligo start-up Balius has registered to list in the US, hoping to attract shareholders to take a stake – rather than steak – from the horse trade.

Offering €75,000 worth of stock via 10 million shares on the OTC market, Balius plans to buy, train and then resell Irish event horses for a tidy profit of up to 75 per cent.

Balius was set up by Vitaliy Gladky, a Ukrainian thoroughbred horse breeder based in Cliffoney, Co Sligo, where he works locally as a trainer.

He wants to put up to €40,000 into developing operations in the next 12 months and hopes to spend as much as €22,000 on buying between three and 14 young Irish horses, depending on the amount of money raised. Gladky plans to invest €1,500-€2,500 per horse and train them himself.

"We would hope to sell these horses for between €7,000 and €9,000 each, to Irish and international buyers," he said. "It's a bit of a gamble but I hope it'll work."

The target market is wealthy buyers in showjumping and eventing circles.

Irish Independent

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