By ROD ORAM and FIONA ROTHERHAM
Global-e Investments, the United States-backed company trying to raise $US1 billion ($2.05 billion) from sceptical investors, extended its high-level networking yesterday with meetings in the Beehive and the Reserve Bank.
Accompanied by a Trade New Zealand official, three key players in the e-commerce venture met the Minister of Finance, Michael Cullen, and Associate Minister for Industry and Regional Development, Pete Hodgson.
Later they met the Governor of the Reserve Bank, Dr Don Brash.
The Herald also learned that Global-e has recruited broadcaster Brian Edwards to front a costly campaign advertising its bonds.
After the top-level Wellington meetings, media minders for the ministers and Dr Brash confirmed that talks took place but declined to comment on who attended or what was discussed.
Global-e said, however, its party consisted of chief executive Damian Archbold director Danny Chan - a prominent figure in New Zealand finance - and director Ron Ryan, a Wall St bond fund manager.
"Issues on the agenda include trends in international securities, and Government policy on foreign investment and free movement of capital," the company said in a press release before the meetings.
Global-e is using prize draws worth up to $US39.6 million a year to try to encourage investors in New Zealand and abroad to stump up $US1 billion, of which $US275 million would be used to fund its development.
Auckland fund managers were sceptical about the bond issue after company presentations.
In contrast, the chief operating officer, Philip Markwith, said after the meetings that he was confident of raising money.
To help sell the bonds to the public, the company has hired Mr Edwards to present a multimillion-dollar advertising campaign.
Mr Edwards confirmed he was fronting the ad campaign, saying: "I would not have done it if I was not satisfied with the nature of the product."
The company said more than $3 million would be spent on the year-long campaign, which starts on March 20.
The Irish-born broadcaster recently left Radio New Zealand's Top o' the Morning show after a contract spat. He is also known for his tough investigative style on Gallery and Fair Go.
Mr Edwards and his wife, Judy Callingham, provided media advice to Prime Minister Helen Clark for several years. He said he had personally invested in Global-e. When asked how much, he replied: "That's none of your business."
The company has been building high-level contacts in New Zealand for the past four years with the help of Trade NZ. The Government agency has a programme aimed at encouraging companies and wealthy individuals to invest here.
Simon Fawkes, the Trade NZ official who had originally handled Global-e, quit the Government to join the company in a senior role last June.
He is also one of only two New Zealand shareholders in MMC Management Holdings, which owns a large majority of Global-e's ordinary shares. The other 11 shareholders are Americans.
"It's not the first time our staff have been poached," said Fran Wilde, Trade NZ chief executive. Such career changes were a testament to the quality of staff, she added.
Global-e courts top echelon, grabs Edwards
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