HK's Esprit jumps on progress of potential deal with investor over European business

Esprit Holdings

18/04/2024 03:10

** Shares of apparel group Esprit Holdings Ltd  0330.HK 
jump as much as 34.1% to HK$0.275, their highest since April 11
    ** Stock on track for the biggest one-day rise since April
10; fourth biggest gainer on the Hong Kong bourse
    ** Esprit says it has entered into a memorandum of
understanding (MOU) with a potential investor in relation to
potential investment and cooperation, including managing,
operating and restructuring the firm's European business with
the investor taking an economic interest in the firm
    ** Esprit, with current market value of HK$722 mln ($92.20
mln), says the investor will perform due diligence review on the
financial, legal and other matters with respect to the firm's
European business
    ** Hang Seng Commerce & Industry Index  .HSNC  gains 0.1%,
Hang Seng Consumption Index  .HSCGSI  rises 1.1% and Hang Seng
Index  .HSI  adds 0.4%
    ** Esprit stock down 38.5% YTD  


($1 = 7.8309 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))