Pyne Gould Corp [NZX: PGC], the asset management firm controlled by George Kerr, has completed its relocation from New Zealand to Guernsey.
The company made the move after it shifted its focus away from New Zealand investments to Australia and the UK. It plans to list on the London Stock Exchange, where it believes it will have better growth prospects.
Pyne Gould has sold non-core assets and turned its focus to its Torchlight Investment Group, which aims to buy undervalued assets by targeting distressed debt situations.
The company said it has been removed from the New Zealand companies register as a New Zealand company and is now registered in Guernsey, a British Channel Island often described as a tax haven.
The shares last traded yesterday at 43 cents yesterday, having jumped 59 percent in the past year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Whanganui’s Sarjeant Gallery to get multimillion dollar extension
- iPredict decision the work of 'officious aliens' – Crampton
- Fire planners and let people decide
- Joyce associates openly talking about leadership change
- Parent, widow of Pike River casualties fail to force review of decision to drop charges against Whittall
Most listened to
- Tim Hunter on why Veritas is doing it the hard way
- Matthew Hooton on whether Steven Joyce will be the next national leader
- Rodney Hide on why all city planners should be fired
- Nevil Gibson discusses his latest Editor's Insight on films
- The NBR crew throw around some of the week's top stories
- Rob Hosking breaks down the political and economic week that was
- "A tragedy" - David Farrar on his disappointment with Simon Bridges
- New F&P product pipeline exciting, says Macquarie senior investment adviser Brad Gordon
- Taupo Motorsport Park executive director Tony Walker on the park's rebranding
- NZIER senior economist Christina Leung on why she does not think the OCR will hit 2%
- NBR's Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’