For the first time ever, three wines are now tradable on the Australian Stock Exchange. Peter Lehmann Stonewell Shiraz 1998, Tyrrell’s Vat 1 Hunter Semillon 1998 and Two Hands Lily’s Garden Shiraz 2001 are each listed though the Australian Wine Exchange (AWX) and can be traded in the same way as ordinary shares in a company. Each share entitles the holder to one case of the specified premium wine, which is professionally cellared by the ASX-listed Toll Holdings for the life of the share. Shares can be traded on the ASX until a pre-set de-listing date, generally in 12 months time. The shares are then redeemed with the wine deliverable to the final registered holder. AWX chief executive and founder Stephen Thompson says the shares allow wine producers to effectively pre-sell their vintages, thereby opening up a valuable new distribution channel and capital market. The spin for the investors is that they can access the wines at a discount of around 20% on expected market price.
