BUSINESS in brief

XFUND on the rise

Sagicor Real Estate X Fund shares have traded up three per cent since their listing last Friday.

The stock, which trades under the symbol 'XFUND', closed Monday at $5.15 per share, up from its IPO price of $5.

Jamaica Stock Exchange said XFUND is the second company to list its ordinary shares on the main market for this year, but the eighth stock to list overall, pushing the total listings on the combined markets to 64 overall.

XFUND raised close to J$1.5 billion from 1,357 subscribers to make it one of the largest IPOs on the stock exchange. The offer valued the company above $7 billion.

BMW unveils new Mini

Car maker BMW has unveiled the newest version of its popular Mini — a quieter, longer and taller version of the iconic vehicle.

Prime Minister David Cameron has called the Mini a "classic British icon", and BMW is pumping pound750 million (US$1.2 billion) into the car's production in the United Kingdom.

BMW, which has been manufacturing the Mini since 2001, unveiled the new model on Monday in England, saying it is more spacious and safer, and offers drivers a "more dynamic and performance-oriented" experience.

The new car will go into production this week and will be on sale in the UK in spring 2014 starting at around pound15,000 (US$24,000). It will be offered in three versions: basic, diesel engine, and the Mini Cooper S.