Insured Group offering only part payment to St. George Bank as prospectus pulled again

Fri, 10 Aug 2012

By Jonathan Underhill Aug. 10 (BusinessDesk) - Insured Group, the Australian insurer which used Lombard Group for a backdoor listing on the NZX, has pulled its prospectus for ASX listing for the second time this year after announcing it will only make a part payment on A$3 million due to St. George Bank on Sept. 30. The company “remains in discussions” with the lender, on the expectation St George will extend terms, Perthy-based Insured Group said in a statement today. It was intending to raise A$2.25 million in Australia, which it had hope...

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