Yesterday I published an article about Birmingham International Holdings raising money via a convertible note issue for £6mil. There has been a little bit of news about it in Hong Kong, so I thought I should try and update people.

The issue is to be placed with a company called Inkhata Group, which is owned by a PR China businessman who is currently nameless. I think it’s a nice irony that there is investment from a company whose name is synonymous with Zulus – Inkatha means “Crown” in the Zulu language.

Ming Pao has a piece about the incoming investment where Pollyana Chu (Chu Yuet Wah), who is acting as the placing agent for this deal, is quoted as saying BIH is a company that is in good health and that it is a company that Mainland (ie PR China) businessmen are interested in. There is the thought that this deal could diversify shareholder structure some more, as should Inkatha convert the debt to shares at the end of the two years they will become the 2nd largest shareholders based on current holdings.

As I said previously, the name behind the firm hasn’t yet been disclosed. The media have contacted BIH and Vico Hui in particular for comment but he hasn’t responded.

Tags: BIH, Carson Yeung, China, HK, Pollyana Chu, Vico Hui