Potential stakeholders have been quick to snap up their shares in the Sapphire Racing Trust after the launch of the much-anticipated group ownership scheme last week.

The trust is the third launched by STC Racing Management (STCRM), which is wholly owned by the Singapore Turf Club. The earlier ones are the Orange and Lime Racing Trust.

Under the scheme, 50 stakes, at a one-off price of $14,500 per stake, are offered to the public by STCRM, who will also manage the stable for the trust. So far more than 25 stakes have been committed to by interested parties and the third trust looks again to be fully subscribed before the scheduled close of offer on 7 April.

Commented Larry Foley, Manager STCRM, "We are very pleased with the response to the third trust. Most of our stakeholders are new to ownership and through regular updates regarding their stable, understand just what goes into getting a horse in peak condition to the race track. It is also encouraging that some of the first people to sign up for Sapphire Racing Trust already belong to either Orange or Lime Racing Trusts and in a few cases, all three".

Sapphire Racing Trust has four horses in its stable consisting of three unraced 2-y-o geldings from Australia and one unraced 3-y-o gelding from New Zealand. Melbourne Cup winning trainer John Meagher, Dr Yeoh Kheng Chye, Michael Clements and Stephen Gray will train the horses.

Parties interested in subscribing to the Sapphire Racing Trust are to contact the STCRM office as soon as possible so that they do not miss out on this unique opportunity.