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HIH Insurance was Australia's second-largest insurance company before it was placed into provisional liquidation on 15 March 2001. The demise of HIH is considered to be the largest corporate collapse in Australia's history, with liquidators estimating that HIH's losses totalled up to $5.3 billion.
On 10 April 2008, QBE proposed a takeover, with each IAG share being exchanged for 0.135 QBE shares plus 50 cents cash (an effective value of $3.75 per IAG share at the time). This proposal was rejected by the IAG board the next day. QBE responded by increasing its proposal to 0.142 QBE shares plus 70 cents per IAG share.
Under Australian law, a proprietary limited company (abbreviated as 'Pty Ltd') is a business structure that has at least one shareholder and up to 50, where the liability of shareholders is limited to the value of shares. Its counterparts include the public limited company (Ltd) and the Unlimited Proprietary company (Pty) with a share capital.
(For example, 500 shares at $32 may become 1000 shares at $16.) Many major firms like to keep their price in the $25 to $75 price range. A US share must be priced at $1 or more to be covered by NASDAQ. If the share price falls below that level, the stock is "delisted" and becomes an OTC (over the counter stock). A stock must have a price of $1 ...
Sydney Airport Corporation Limited (SACL) was incorporated on 28 May 1998 and commenced operations on 1 July 1998 [2] as the long-term lessee of Sydney Airports from the Australian Federal Government under the Airports Act 1996. [3]
de Havilland Aircraft Pty Ltd (DHA) was an Australian subsidiary of the British aircraft manufacturer de Havilland, founded in 1927. [1] It acquired the Commonwealth Aircraft Corporation in 1985 and was purchased by Boeing in 2000 and merged with the Boeing owned AeroSpace Technologies of Australia (formerly Government Aircraft Factories) to become Hawker de Havilland Aerospace Pty Ltd.
Price Refs. 1 January 2000: Tablelands Computer Systems Australia — [6] 2 December 6, 2001: ProClaim Software Pty Ltd Claims Management Australia: A$10.6 million [40] 3 March 2002: Infoplan Australia — [6] 4 October 1, 2007: Avand Pty Ltd Enterprise Content Management (ECM) Australia: A$10 million [3] 5 August 1, 2008: Outcome Manager
OUTsurance was launched on 28 February 1998 as a wholly owned subsidiary of RMB Holdings to provide short-term insurance to individuals. [3] On 1 January 2000, OUTsurance acquired the First National Insurance group (FNI) from FirstRand in an all share deal that gave RMBH and FirstRand each an interest of 47.5% in the merged entity, with 5% being held by the staff trust.