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
Most listened to
- Rob Hosking does not think it's good enough the Budget has left out reduced taxation on savings
- Tim Hunter finds unsavoury flavour in the Nosh deal
- Todd McClay is doing an incredible job as trade minister, to the surprise of Matthew Hooton
- Property Institute chief Ashley Church explains why the budget is underwhelming
- Peter Biggs on why WREDA's looking for another chief executive
- NBR Radio: best of the week ended May 19, with Grant Walker