Utilico wants major stake in Bermuda First Investment Company Limited
Bermuda First Investment Company Limited, an investment holding company with significant investments in Bermuda Stock Exchange (BSX) Bermuda listed companies, has announced that Utilico Investments Limited has exercised 170,000 warrants in BFIC, according to a BSX press release.
It states: “Following this warrant exercise, Utilico is interested in 1,372,315 shares in the Company, representing approximately 70.8 percent of the company's issued share capital.
“Bermuda First Investment Company Limited is a Bermuda exempt investment holding company with significant investments in a number of BSX listed Bermuda companies. Its main investments are in KeyTech Limited and the Ascendant Group Limited.
“The Company's core strategy is to continue to build strategic investments in local Bermudian companies subject to the relaxation of the 60/40 rule.”