HK's Esprit sees worst day in over 8 years on discounted share sale

Esprit Holdings

28/01/2021 02:25

** Shares of fashion group Esprit Holdings Ltd  0330.HK 
fall as much as 21% to HK$0.79 their lowest since Oct. 15, 2020,
on course for a second session of decline
    ** Stock last down 19%, poised for the worst day since June
2012; the biggest percentage decliner among all listed companies
on the Hong Kong bourse 
    ** Co plans to issue up to 957 mln rights shares to the
existing shareholders in the proportion of one rights share for
every two existing shares held, raising HK$717.7 mln ($92.6 mln)
to upgrade IT system and develop new e-commerce sales channel
 urn:newsml:reuters.com:*:nFWN2K2171
    ** Co says rights shares will be issued at HK$0.75 each, a
discount of 25% to Wednesday's close of HK$1.00 each  
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
edges down 0.1%, while the benchmark index  .HSI  falls 1.1%

($1 = 7.7518 Hong Kong dollars)

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