Pacific Retail Merchants AG Completes IPO
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Pacific Retail Merchants AG /
Pacific Retail Merchants AG Completes IPO
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* Gross proceeds amounting to ?400,000
Munich, 5 June, 2013 -- Pacific Retail Merchants AG (ISIN: DE000A1PHEF0), the
holding company of The PRM Group, a leading retailer of traditional dried
seafood delicacies and Chinese herbal medicine and health supplements in Hong
Kong, has completed its IPO. The Company has applied for listing on the General
Standard of the Frankfurt Stock Exchange.
The subscription period closed according to plan on 5 June. A total of 200,000
ordinary bearer shares with no-par value generated from a capital increase were
placed at an offer price of ?2.00 with private investors within Germany and
abroad. The gross issue proceeds for the company amounted to ?400,000 and the
free float amounts to 58%. Pacific Retail Merchants AG plans to use the funds
from the IPO to further expand its profitable growth.
Commenting on the news, Ronny Yeung, Chief Executive Officer of Pacific Retail
Merchants stated, "I am pleased to announce the successful completion of our
IPO. Pacific Retail Merchants has achieved considerable growth within Hong Kong
and the proceeds from this offering will be allocated toward our continued
expansion within the Asian markets."
About Pacific Retail Merchants AG
Pacific Retail Merchants AG is the holding company of the PRM Group, which sells
a variety of traditional dried seafood delicacies and Chinese herbal medicine
and health supplements through its network of Company owned stores in Hong Kong.
The Company also distributes products through its wholesale operation. PRM
opened its first shop in Jordan along Nathan Road in Hong Kong in 1999. Today
the operation comprises ten retail locations including a wholesale distribution
warehouse with 55 full time employees
For further information please visit www.pacificretailmerchants.com or contact:
Ronny Yeung
Chief Executive Officer
Pacific Retail Merchants AG
ronny.yeung(at)giantluxury.com
IPO completion:
http://hugin.info/157077/R/1707526/565466.pdf
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Source: Pacific Retail Merchants AG via Thomson Reuters ONE
[HUG#1707526]
Unternehmensinformation / Kurzprofil:
Datum: 05.06.2013 - 21:42 Uhr
Sprache: Deutsch
News-ID 267057
Anzahl Zeichen: 2999
contact information:
Town:
Munich
Kategorie:
Business News
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