May 4, 2001
International Financial Group, Inc. Files F-1 IPO with SEC
Georgetown, Grand Cayman, Cayman Islands, BWI - International Financial Group Inc. (IFG), today announced that on April 18, 2001, the company filed its F-1 registration statement for its initial public offering with the United States Securities and Exchange Commission (http://www.freeedgar.com/search/FilingsResults.asp?SourcePage= CompanyList&CIK=1137281&UseFrame=1&FormType=&DateFiled= &CompanyName=INTERNATIONAL+FINANCIAL+GROUP+INC+%2FCAYMAN+ISLANDS%2F).
IFG provides offshore financial services to the business-to-consumer and business-to-business markets.
Mr. Kevin Mellor, President and Chairman states, “We utilize traditional delivery channels including in-person consultation, telephone and facsimile, and the Internet to deliver our products and services. We are very pleased to announce we commenced full service offshore investment, trust and corporate services activities in February 2001, and during the same month, also launched the websites www.ifgnevis.com, www.apiip.com and www.ifgtrust.com to provide Internet-based discount offshore investment, trust and incorporation services. It is our objective to provide to our clients an efficient, professional and confidential environment in which to conduct their financial affairs, with a focus on asset protection. It is also our objective to satisfy all financial services and money laundering regulations in each jurisdiction that we operate within.”
Recent global increases in the use, by individuals and corporations, of international financial planning strategies have lead management to believe there will continue to be a substantial and growing market for full service offshore financial service providers. We believe that individuals and corporations around the world have demonstrated an increasing desire to use financial strategies that allow them to control their own financial affairs in a convenient, confidential and efficient manner, while protecting their assets, preserving their wealth, and providing flexibility in wealth transfer. Furthermore, in the third quarter of 2000 it is estimated that more than one-third of U.S. securities transactions were facilitated by the Internet. While use of the Internet has continued to grow at an exponential rate, Internet consumers have become increasingly confident in the security, reliability and confidentiality of e-commerce transactions. We have developed our business plan and corporate structure to accommodate these emerging consumer trends and demands.
To accomplish these goals, the Company has established itself as a comprehensive provider of full service and discount offshore financial products and services through over 40 wholly-owned subsidiaries currently incorporated in over 30 offshore jurisdictions. Customer convenience and operating efficiency, along with offering “bundled” financial services, are two key components of our strategy. Ultimately, the Company intends to expand its products and services offerings to include full service and discount offshore banking and insurance. By offering these services from multiple jurisdictions, the Company’s clients will be able to develop a financial plan utilizing multiple layers of confidentiality while also offering the client the ability to utilize the best available jurisdiction for each distinctive part of their offshore financial strategy. As the Company expands its products and services offered, it will continue to utilize both full service traditional and discount Internet-based delivery channels.
IFG has received its Internet-based offshore financial services license to operate in the Cayman Islands, which includes brokerage services. IFG has established its trust services subsidiary, IFG Trust Services, Inc., head office in Nevis, St. Kitts & Nevis, West Indies. IFG Trust Services, Inc. has established IFG Investments Services, Inc. a Nevis subsidiary that facilitates investment and brokerage services. In February 2001, IFG established an offshore trust services subsidiary in The Isle of Man. The Company also has applied for Trust licenses in Anguilla and St. Lucia of the British West Indies. IFG has established its corporate services, IFG Corporate Services, Inc., holding company in the Cayman Islands. IFG has established corporate services subsidiaries in Antigua, Barbados, Costa Rica, Panama, Hong Kong, Isle of Man, Labaun and Marshall Islands. IFG has also established a technology, IFG Systems, Inc., subsidiary in the Cayman Islands for the purpose of managing all systems and technology developed by, and for, the Company.
The Company is offering 5,000,000 units with each unit consisting of one (1) ordinary share, having $0.001 par value per share, and one (1) share purchase warrant that allows the holder of each warrant to purchase one (1) share at an exercise price of $5.00 USD, to be exercised not later than December 31, 2002, after which date the warrant will become null and void, (herein collectively referred to as “Units”), at an offering price of $0.75 per Unit for gross offering proceeds of $3,750,000 USD. This is the initial public offering and no public market currently exists for IFG’s shares. We anticipate that the initial public offering price will be between $0.50 and $1.00 per unit.
Mr. Mellor states, “We have contacted and arranged meetings with several potential underwriters. I am looking forward to meeting with members of the international investment community over the next 90 days to discuss the opportunities for this underwriting.”
About IFG
IFG and its subsidiaries provide offshore financial services to the business-to-consumer and business-to-business markets. We utilize traditional delivery channels including in-person consultation, telephone and facsimile, and the Internet to deliver our products and services. We commenced full service offshore investment, trust and corporate services activities in February 2001, and during the same month, also launched the websites www.ifgnevis.com, www.apiip.com and www.ifgtrust.com to provide Internet-based discount offshore investment, trust and incorporation services. It is our objective to provide to our clients an efficient, professional and confidential environment in which to conduct their financial affairs, with a focus on asset protection. It is also our objective to satisfy all financial services and money laundering regulations in each jurisdiction that we operate within. IFG competes with Barclays BLC (BCS), E-Trade (ET), and Net-Bank (NTBK).
To view recent news release and additional information about the Company please visit our website at www.ifgnevis.com.
Statements regarding financial matters made by International Financial Group, Inc. in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the company’s future expectations, including future revenues and earnings and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. This information is not a recommendation to buy or sell securities in International Financial Group, Inc.
Contact Information:
International Financial Group, Inc.
PO Box 10098 APO
Grand Pavilion Commercial Centre
West Bay Road
Grand Cayman, Cayman Islands, BWI
Telephone: (869) 469-7040
Fax: (869) 469-7042
ir@ifgnevis.com
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