Parmalat aims to re-list on Italian stock exchange
Dairy company wants to be back on the Italian stock exchange after accounting scandal.
After going bust because of an accounting scandal, dairy company Parmalat wants to re-list on the Italian stock exchange. Link: Parmalat: The aftermath
Parmalat, which revealed debts of £9.6bn in 2003 – eight times higher than it had originally stated – wants to be trading on the boards again by July.
The BBC reports that Parmalat has detailed its administrators’ new strategy for re-listing the groups shares.
The company is expected to convert creditors’ debts into shares in two share issues amounting totalling approximately 2bn euros.
Creditors will be asked to vote on the plan later in 2005.