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Blackwell Global Holdings to wind down finance arm, let executives go
18 Jan, 2021 04:25 AM
2 minutes to read
NZX-listed Blackwell Group Holdings will wind down its finance business. Photo / Supplied
Blackwell Global Holdings (BGI) will wind down its finance company operation and let its executives go after it could not raise enough capital to fund the growth of its loan book.
The NZX-listed investment company, which is 75 per cent owned by derivatives trading and investment company Blackwell Global Group, has announced a restructure.
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Chairman Sean Joyce said the board was of the view that BGI was unable to continue to operate as a meaningful finance company operation due to its inability to raise sufficient debt funding or equity at this time.