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HEZ - Pelikan AG News Story

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Last Trade - 08/12/17

Basic Materials
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £209.2m
Position in Universe th / 1055

Malaysia's Pelikan to raise $155 mln from assets listing in Germany

Tue 8th July, 2014 5:19pm
KUALA LUMPUR, July 8 (Reuters) - Malaysian stationary maker 
Pelikan International Corporation Bhd  PELK.KL  plans to list 
some of its units and assets in Germany in a move that will 
raise at least 491.3 million ringgit ($154.98 million), it said 
on Tuesday. 
    The proposed listing - to be done via private placements and 
offers for sale - will include an asset injection into the 
company and its 96.45 percent-owned Switzerland unit Pelikan 
Holding AG  PEL.S  into Herlitz AG  HEZG.G  for 1.19 billion 
    In return, Pelikan will receive 266 million new shares in 
Frankfurt listed Herlitz, of which Pelikan now holds a 70.92 
percent stake, according to a stock exchange filing on Tuesday.  
    The deals will allow Pelikan to unlock the value of its 
various stationary businesses and provide funds for growth, the 
company said.  
    Pelikan also proposed a private placement of up to 50 
million Herlitz shares, at a minimum offer price of one euro 
each, and the offer for sale of up to 30 million Herlitz shares, 
by Pelikan and its Switzerland unit Pelikan AG. 
    For a full statement of the stock exchange filing, please 
($1 = 3.1700 Malaysian Ringgit) 
 (Reporting By Yantoultra Ngui, editing by Louise Heavens) 
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