Malaysian stationary maker Pelikan International Corporation Bhd plans
to list some of its units and assets in Germany in a move that will
raise at least 491.3 million ringgit (US$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 per cent-owned Switzerland unit Pelikan Holding AG into Herlitz AG for 1.19 billion ringgit.
In return, Pelikan will receive 266 million new shares in Frankfurt listed Herlitz, of which Pelikan now holds a 70.92 per cent 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.
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