P. M. BRIEFING : Shares in Ancient Map to Be Sold
Investors are lining up to become shareholders in the Mappa Mundi in a plan to keep the 13th-Century map of the world at Hereford Cathedral, organizers said today.
A new company called Mappa Mundi PLC is offering the public 7,450 shares at about $1,700 each to raise more than $12 million to keep the map at Hereford and pay for repairs to its cathedral.
Hereford Cathedral caused a national uproar when it announced last year that it would auction off its medieval treasure, possibly to foreign buyers, to pay for the much-needed repairs.
It had hoped to raise $4.3 million by selling the 708-year-old map, which shows Jerusalem at the center of the world and Hereford at the edge.
The Church of England subsequently joined forces with financiers to launch the unusual privatization.
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