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NewsPelikan to raise RM491 mln from listing of key subsidiaries and assets in Germany
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Pelikan to raise RM491 mln from listing of key subsidiaries and assets in Germany
by Cals Wed 09 Jul 2014, 08:53
| Pelikan to raise RM491 mln from listing of key subsidiaries and assets in Germany |
| Business & Markets 2014 |
| Written by Liew Jia Teng of theedgemalaysia.com |
| Tuesday, 08 July 2014 20:34 PETALING JAYA: Pelikan International Corporation Berhad plans to list its key subsidiaries and selected assets in Germany, a move to facilitate the group to raise at least RM491.3 million from private placement and offer for sale. In a filing with Bursa Malaysia on July 07 (Monday), Pelikan said that the proposed listing would include asset streamlining exercise, which involves assets injection within the group and Pelikan Holding AG (PHAG), into Herlitz Aktiengesellschaft (Herlitz), for RM1.19 billion (266 million euros). In exchange, Pelikan will receive 266 million new shares in Herlitz — its 70.92%-owned subsidiary, which is listed on the Frankfurt Stock Exchange. Meanwhile, Pelikan also proposed a private placement of up to 50 million Herlitz shares, at a minimum offer price of one euro apiece, as well as the offer for sale of up to 30 million Herlitz shares, by Pelikan and PHAG each. |
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