Source:
https://scmp.com/business/companies/article/1067544/esprit-right-issue-taps-market-hk52b
Business/ Companies

Esprit right issue taps market for HK$5.2b

Apparel retailer needs money to revive brand after sales drop 22 per cent in the first quarter

Esprit has been losing customers to its rivals. Photo: Esprit

Esprit Holdings plans to raise as much as HK$5.2 billion in a rights offer to fund efforts to revive its brand after reporting a first-quarter sales decline.

The apparel company will offer investors the right to buy one new share at HK$8 each for every two held, Esprit said in a statement to the stock exchange yesterday.