Brief: Kerry Logistics Network Updates On Proposed Spin-Off & Listing Of Kerry Express (Thailand)

KLN Logistics

28/02/2020 11:25

Feb 28 (Reuters) - Kerry Logistics Network Ltd  0636.HK :
    * KERRY LOGISTICS NETWORK LTD UPDATES ON PROPOSED SPIN-OFF
AND
SEPARATE LISTING OF KERRY EXPRESS (THAILAND)
    * KETH SUBMITTED APPLICATION FOR ISSUANCE AND OFFERING OF
ORDINARY
SHARES TO SEC
    * PROPOSES GLOBAL OFFERING WILL INVOLVE A PUBLIC OFFERING OF
KETH
SHARES FOR SUBSCRIPTION BY PUBLIC IN THAILAND
    * PROPOSES KETH GLOBAL OFFERING TO ALSO INVOLVE
INTERNATIONAL
PLACING OF SHARES TO SOME INSTITUTIONAL, PROFESSIONAL INVESTORS
    * EXPECTS AMOUNT OF NEW KETH SHARES TO BE ISSUED FOR GLOBAL
OFFERING WILL ACCOUNT FOR ABOUT 17.24% OF ITS SHARE CAPITAL
    * SHOULD PROPOSED SPIN‐OFF PROCEED, CO'S DEEMED INTERESTS,
VIA
UNIT IN KETH WILL BE REDUCED TO ABOUT 52.14%
    * ON COMPLETION, PROPOSES THAT A SPECIAL DIVIDEND IN RANGE
OF 10
TO 14 HK CENTS PER SHARE WILL BE DISTRIBUTED
    * INTENDED THAT KETH WILL REMAIN CO'S UNIT AFTER COMPLETION
OF
SPIN‐OFF, WILL CONTINUE TO CONSOLIDATE ITS RESULTS

Source text for Eikon:  urn:newsml:reuters.com:*:nHKSqzyRL
Further company coverage:  0636.HK 

 (Reuters.Briefs@thomsonreuters.com)