PHOTO: MONIQUE FORD/STUFF – John Chow, left, and Michael Chow.
Millionaire property magnates, the Chow brothers, are going to delist their property firm, and merge it with their private company.
John and Michael Chow are the dominant owners of Chow Group Limited (CGL), and made the decision after the NZX announced plans to scrap its junior equity markets the NZAX and NXT.
The brothers have made an estimated $75 million fortune from brothels, hotels and commercial property deals, and manage an 18-strong property portfolio valued at more than $200m.
John Chow said it made no sense for the company to move to the NZX, as there were higher costs and new rules.
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