Dell's HQ split between US and Singapore
Wholly owned, wholly owned
Friday, 5 January 2007, 10:35
PC GIANT Dell issued $12 billion worth of shares to an Asian subsidiary and designated Singapore as its joint
HQ.
According to a report on Dow Jones, the reason for the move is because Singapore will be a global support hub for its supply chain and its manufacturing.
In its SEC filing, here, Dell said the move is an internal restructuring and will "provide various financial, operational and tax efficiencies".
It issued a total of 475,435,817 shares of its common stock.
The subsidiary used the shares to take a controlling interest in another wholly owned Dell subsidiary - are you following this so far? The shares are held by wholly owned subs of Dell and so won't be showed as outstanding on Dell's financial statements. ยต
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