HK-listed sportwear firm 361 Degrees climbs on president's stake hike

361 Degrees International

27/05/2019 06:50

** Shares of 361 Degrees International Ltd  1361.HK  rise as
3.6 pct to HK$1.43, on track for the second session of gains,
after the Chinese sportwear maker says president raises stake in
the company for HK$3.7 million ($471,379) 
    ** Co says major shareholder and president Ding Wuhao bought
2.692 mln shares, raising his stake in the company to 342.76 mln
shares or 16.58% of the share capital https://bit.ly/2K75FDh
 
    ** Fujian-based company says Ding bought the shares at an
average price of HK$1.33 and HK$1.36 each on May 23 and 24
respectively in a bid to demonstrates his confidence in the
company's prospects
    ** As of Friday's close, the stock had fallen 15.3% so far
this year
    ** 361 Degrees has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 16.0 percentage points in the
past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  eases 0.3% on Monday, and the Hang Seng
China enterprises index  .HSCE  slides 0.5%
    


($1 = 7.8493 Hong Kong dollars)

 ((Reuters Messaging:
donny.kwok.thomsonreuters.com@reuters.net))