Brierley Investments

Brierley Investments Limited (BIL) was established by New Zealand investment veteran Sir Ron Brierley in 1961 [1] and in 1985 listed on stock exchanges in Australia, England, and New Zealand (ASX, LSE, NZSX) and grew to become one of the biggest - and for a time most successful and glamorous - companies in the 1980s. At its peak about 150,000 Kiwis were shareholders.[2]

In the 1980s BIL was a feared corporate raider [3] in Australia and Britain, but the firm stumbled after the 1987 sharemarket crash, and Sir Ron was eventually deposed in a boardroom coup. In the 1990s the firm's investments were poor, it mismanaged its foreign-exchange risk, and its balance sheet suffered. In 1998–99 the firm moved its head office to Singapore and listed on the SGX. In June 2000, BIL's listed investments had a total market value of US$1.01858 billion, including 46% of Thistle Hotels plc; 30% of Air New Zealand; and 29% of James Hardie Industries. [1]

On 1 November 2007, the registered name BIL International Ltd changed to GuocoLeisure Ltd, and the issuer code changed from BRY to GLL.[4] In 2013, due to a low volume of trading, GLL's board resolved to delist from the NZX, and dissolve the company.[5]

“ Further to its announcement dated 25 November 2013, GuocoLeisure Limited wishes to announce that its inactive wholly owned subsidiary, BIL Asia Group Treasury Limited, a company incorporated in the British Virgin Islands which was placed under members’ voluntary liquidation, has been dissolved. ”

The last day of trading of the shares on the NZX was June 24, 2014. [2]

References

  1. 1 2 "Brierley Investments Limited (BRY)". intelligentinvestor.com.au. Retrieved 20 February 2014.
  2. 1 2 Van Den Bergh, Roeland. "Remnants of Empire fade away". stuff.co.nz. Fairfax media. Retrieved 20 February 2014.
  3. ↑ "Brierley Investments: Grounded". The Economist. The Economist Group. Retrieved 20 February 2014.
  4. ↑ "GuocoLeisure Limited (GLL) Analysis". NZX Main Board. NZX Limited. Retrieved 20 February 2014.
  5. ↑ "GLL/announcements". NZX Main Board. NZX Limited. Retrieved 20 February 2014.
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