South British in merchant bank
(New Zealand Press Association) WELLINGTON, February 11. The National Bank of New Zealand, Ltd, and the South British Insurance Company, Ltd, are the principal shareholders in a new company, South Pacific Merchant Finance, Ltd. which will undertake merchant banking in New Zealand from offices in Wellington and Auckland.
The company will have an initial capital of slm.
The shareholders are the National Bank (40 per cent), South British (30 per cent), R. A. Jarden and Company (15 per cent), Lloyds and Bolsa International Bank (121 per cent), and Trans City Ltd (21 per cent). Lloyds and Bolsa International are part of the extensive Lloyds Bank Group specialising in international financing, and R. A. Jarden and Company is a member of the Wellington Stock Exchange. Trans City is an approved dealer in the Australian short-term monej’ market.
In a joint statement, the shareholders say that one of the major objects of the new company will be to raise money both overseas and in New Zealand for lending to
developing businesses in New Zealand.
The company would also undertake other merchant banking activities including underwriting and investment banking.
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Bibliographic details
Press, Volume CXII, Issue 32839, 12 February 1972, Page 20
Word Count
191South British in merchant bank Press, Volume CXII, Issue 32839, 12 February 1972, Page 20
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