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GL Limited

GL Limited is an investment company listed on the Singapore Exchange. Founded as Brierley Investments in 1961, it was formerly listed on the Australian, London and New Zealand exchanges.

History

Brierley Investments was founded by Ron Brierley in 1961[1][2] and in 1985 listed on stock exchanges in Australia, England and New Zealand. It 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 New Zealanders were Brierley Investments shareholders.[3]

In the 1980s Brierley Investments was a feared corporate raider[4] in Australia and Britain, but the firm stumbled after the 1987 sharemarket crash, and Brierley 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 1999 the firm moved its head office to Singapore and listed on the Singapore Exchange.[5] In July 2002, BI was delisted from the Australian Securities Exchange.[6]

In 2003, Brierley Investments was acquired by the Guoco Group and rebranded GuocoLeisure in November 2007.[7] Due to a low volume of trading, GuocoLeisure's board decided to delist from the New Zealand Exchange in June 2014.[8][9][10]

Investments

References

  1. Who We Are GL Limited^
  2. Brierley Investments Limited (BRY) intelligentinvestor.com.au, retrieved 20 February 2014^
  3. Roeland Van Den Bergh. Remnants of Empire fade away Stuff, Fairfax media, 23 December 2013, retrieved 20 February 2014^
  4. Brierley Investments: Grounded The Economist, retrieved 20 February 2014^
  5. Brierley Comes Home to Singapore CNN International Asia Pacific 10 September 1999^
  6. Removal of BIL Securities from Official Quotation on ASX Australian Securities Exchange 28 June 2002^
  7. GoodLeisure Limited New Zealand Exchange^
  8. Delisting of GuocoLeisure Limited from NZX Main Board GuocoLeisure 23 December 2013^
  9. GuocoLeisure, once known as Brierly, to leave NZX mid-2014 Scoop 23 December 2013^
  10. Brierly Investments delisting end of an era New Zealand Herald 20 June 2014^
  11. Qantas group wins ANZ carriers Flight International 7 January 1989 page 18^
  12. History Air New Zealand^
  13. John Fairfax Holdings Ltd Australian Takeovers Panel^