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Swiss pharmacy group Zur Rose to hold EGM ahead of possible IPO

Reuters
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 mail-order pharmacy Zur Rose Group will hold an extraordinary general meeting (EGM) on June 19 to increase its share capital, as it mulls whether to raise funds through a public listing, private funding or by issuing debt. "Shareholder approval of the business on the agenda would allow Zur Rose Group AG to proceed with an initial public offering, possibly even this year, if the circumstances are favourable," the company, which is working with UBS and Berenberg, said in a statement on Tuesday. At the EGM, shareholders will vote on creating authorised share capital representing 50 percent of existing shares. The board of directors is also proposing a revision and restatement of its articles of association to conform to the requirements for listed companies. (Reporting by Joshua Franklin; Editing by Michael Shields)