Secoo Holding: Eyes best day ever on $100 mln investment from Qudian

Secoo Holding

03/06/2020 16:25

** Chinese online pre-owned luxury goods retailer  SECO.O 
jump 64.65% to $3.54, set for best one-day percentage gain since
stock's debut in Sept 2017
    ** Chinese microlender Qudian  QD.N  to buy about 10.2 mln
newly issued Class A ordinary shares of SECO for $9.80 apiece,
reflecting a total deal value of $100 mln  urn:newsml:reuters.com:*:nPn4398Lca
    ** Once the deal is completed, Qudian will own about 28.9%
of SECO, becoming its largest shareholder 
    ** QD shares up 3.7% amid broader market gains 
    ** SECO stock down 39% in 2020, while QD has shed ~67% 

 (Reporting by C Nivedita)
 ((C.Nivedita@thomsonreuters.com))