Sharechat Logo

RBNZ approves ASX-listed Wolfstrike's purchase of lender

Friday 26th May 2017

Text too small?

"FEI has grown rapidly over the last few years," FE Investments managing director TK Shim said in a statement. "Being part of the ASX listed company will enable FEI to tap into the Australian markets for capital to support FEI's growth plans where the ASX is regarded as a major bourse on the world stage."

Shareholders of both firms approved the deal in separate meetings earlier this year, and once it's settled, Wolfstrike will consolidate its shares in a 30-to-one basis. The shares last traded at 0.5 of an Australian cent each.

FE Investments had assets totalling $37.2 million as at March 31, 2017, with about 30 percent of its loan book for property development. At the time, it held term deposits totalling $29.5 million, of which about 46 percent was from non-resident investors. (BusinessDesk)



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report