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Wednesday, August 17, 2011

Parkson plans to list Singapore department-store (WSJ)

Parkson on Tuesday said it plans to list department-store operator Parkson Retail Asia Pte. Ltd. on the main board of the Singapore stock exchange. It expects the listing to be completed by the end of 2011, subject to necessary approvals, the company said in a filing with Bursa Malaysia. The retail operations are in Malaysia, Indonesia, Vietnam and Cambodia.

The company plans to offer new and existing shares via the initial public offering. Parkson is planning to raise S$200 million to S$300 million from the potential listing, said the person familiar with the matter.

Parkson Holdings owns a 90.1% equity interest in Parkson Retail Asia, while the rest is held by Indonesia's PT Mitra Samaya, the company said.

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