Archive for the ‘BVI Holding Companies’ Category

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BVI-registered Global Tech appoints new chairman

Monday, October 10th, 2011

Global-Tech Advanced Innovations Inc., British Virgin Islands-incorporated holding company operating in the business segments of home appliances and electronic components, announced that the company’s Board of Directors has appointed John C.K. Sham as Chairman of the Board. Mr. Sham uis the current President and Chief Executive Officer of the BVI company, also he has been a member of the Board of Directors since July 1991.

The new appointment is effective immediately. Mr. Sham is appointed to fill the vacancy resulting from the passing of Kwong Ho Sham, who had been the Chairman of the Board of Directors of the BVI company since its inception.

Posted in BVI Company management, BVI Holding Companies, NASDAQ listed BVI Companies | No Comments »

BVI-registered holding announced pricing of public offering of ADS

Tuesday, May 18th, 2010
British Virgin Islands-registered and China-based Kingtone Wirelessinfo Solution Holding Ltd. (http://finance.yahoo.com/q?s=KONE), a company developing wireless software and solutions for businesses and government agencies to more efficiently manage their operations, announced the pricing of its public offering of 4,000,000 American Depositary Shares (ADS), representing 4,000,000 ordinary shares of the company. The ADS are offered to the public at $4.00 per share.
The subscribers have a 30-day option to purchase up to an additional 600,000 shares from the company solely to cover over-allotments.
The closing of the public offering is expected to be on May 19, 2010. The BVI company expects to use net proceeds from the offering for product development, to expand research and development,  for customer relations management systems as well as for working capital purposes.
Roth Capital Partners, LLC (http://www.roth.com/) is the sole book-running manager and Maxim Group LLC (http://www.maximgrp.com/) is the co-manager for the public offering of the company.

British Virgin Islands-registered and China-based Kingtone Wirelessinfo Solution Holding Ltd., a company developing wireless software and solutions for businesses and government agencies to more efficiently manage their operations, announced the pricing of its public offering of 4,000,000 American Depositary Shares (ADS), representing 4,000,000 ordinary shares of the company. The ADS are offered to the public at $4.00 per share.

The subscribers have a 30-day option to purchase up to an additional 600,000 shares from the company solely to cover over-allotments.

The closing of the public offering is expected to be on May 19, 2010. The BVI company expects to use net proceeds from the offering for product development, to expand research and development,  for customer relations management systems as well as for working capital purposes.

Roth Capital Partners, LLC is the sole book-running manager and Maxim Group LLC is the co-manager for the public offering of the company.

Posted in BVI Holding Companies, BVI IBC Business News, Initial Public Offerings, NASDAQ listed BVI Companies | No Comments »

Asian company establishes subsidiary in BVI

Saturday, October 17th, 2009

CapitaLand Limited, a company headquartered and listed in Singapore, has established an indirect wholly owned subsidiary in the British Virgin Islands.  On October 16 the company made an announcement on the incorporation of Wealthy Victory Investments Ltd. in BVI.  Principal activity of the BVI subsidiary is investment holding. 
 
The issued and paid-up share capital of the company is US$1, comprising one share.  The company informed that announced transaction is not expected to have any material impact on the profit of the CapitaLand Group for the financial year ending 31 December 2009. Also, the company informed that none of the directors or the controlling shareholder of CapitaLand has any interest, direct or indirect, in the transaction.

CapitaLand is one of Asia’s largest real estate companies, its businesses concentrated in the cities in Europe, Asia Pacific and the countries of Gulf Cooperation Council (GCC). The company is involved in developing real estate financial products and services in Singapore and the region.

Posted in BVI Company Formation, BVI Holding Companies | No Comments »

Ireland’s Doyle Group incorporates in the British Virgin Islands

Wednesday, September 30th, 2009

Irish shipping company Doyle Group reported about its decision to move its corporate base to the British Virgin Islands.  After moving  to BVI, it will not be required to publish accounts.  For the purposes of redomiciliation, the company has created a new holding – Doyle Group Investments – registered in Tortola, British Virgin Islands.  It has also given notice about the change of the status of its Irish firms to unlimited, waiving its obligation to file annual accounts in Ireland.

The Doyle Group is a major shareholder in ferries operator Irish Continental, and was one half of the One51 consortium that pursued a lengthy bid for the shipping group, which ultimately failed after a standoff between the consortium, owners of Irish Continental and property tycoon Liam Carroll.

According to the Group’s last published accounts, it had losses of over E300,000 for the full year after borrowing  E100 million to buy shares in ICG, and to acquire three companies. The group’s turnover increased from E27.9 million to E30 million, but operating and net profit fell “due to increasing costs”. According to the group’s listed investments, its market value in 2007 made E48 million.

Posted in BVI Company Formation, BVI Holding Companies, BVI redomiciliation | No Comments »

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