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Zur Rose proposes 200 million Swiss francs capital hike to finance medpex deal

Reuters
FILE PHOTO: The logo of Swiss-based mail-order pharmacy and medical supplier Zur Rose Group is seen at the company's headquarters in Frauenfeld, Switzerland May 9, 2017. REUTERS/Arnd Wiegmann (Reuters)

ZURICH (Reuters) - Swiss online pharmacy Zur Rose Group <ROSEG.S> said it was proposing an ordinary capital increase of 200 million Swiss francs(156.15 million pounds)to finance its recently announced acquisition of the mail-order activities of German peer medpex.

Shareholders will vote on the proposal to issue up to three million new shares at an extraordinary general meeting to be held on Nov. 19, the company said in a statement on Monday.

The capital increase will be conducted through a rights offering and existing shareholders will receive rights pro-rata to their shareholding to subscribe for the new shares, said Zur Rose, which listed on the Swiss stock exchange last year.

Morgan Stanley and UBS are acting as joint global coordinators and joint bookrunners on the proposed rights offering, which is fully underwritten by the two banks, the company said.

($1 = 0.9982 Swiss francs)

(Reporting by Silke Koltrowitz, editing by John Miller)