HK's C.banner falls on weak H1 forecast; pulls plug on rescuing House of Fraser

C banner International Holdings

02/08/2018 03:34

** Shares of C.banner International Holdings Ltd  1028.HK  
fall as much as 11.3 pct to HK$0.63 after the fashion footwear
maker flagged H1 loss and cancelled a share sale, pulling the
plug on investing in British retailer House of Fraser
    ** A rescue deal for House of Fraser was thrown into doubt
after C.banner cancelled its planned fundraising to become a
majority shareholder in the department store  urn:newsml:reuters.com:*:nL5N1US6OB
    ** Owner of London toy shop Hamleys expects to post 20
million yuan ($2.9 million) loss for the first half due to
appreciation of the U.S. dollar in which its certain
interest-bearing borrowings are denominated  urn:newsml:reuters.com:*:nFWN1US107
    ** Company is due to publish interim results later in August
    ** As of the previous close, the stock had fallen 72.9
percent so far this year
    ** C.banner has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 66.4 percentage points in the
past one month
    ** As of 0221 GMT, about 12.41 million shares of the
Jiangsu-based company have changed hand, compared with their
30-day moving average of 32.57 million shares a day
     ** Hong Kong benchmark index  .HSI  falls 1.3 pct

($1 = 6.8123 Chinese yuan)

 (RM: donny.kwok.thomsonreuters.com@reuters.net)