Anta Sports Shares Fall Following Share Placement Plans
By Yi Wei Wong
Anta Sports Products Ltd. shares fell in early trade Tuesday, following its plans to raise capital of US$1.49 billion via a share placement.
The sports-product company's shares fell as much as 9.0% to 99.05 Hong Kong dollars (US$12.62) in early trade. They were last 6.5% lower at HK$101.70.
In a release on Tuesday, Anta Sports said it will place an aggregate of 119 million shares at HK$99.18 each, which represents a discount of 8.8% to the last closing price of HK$108.80.
The placement represents approximately 4.4% of the total number of issued shares at the time of the announcement, it added.
The net proceeds from the subscription are expected to be around HK$11.73 billion (US$1.49 billion), after deducting all fees, costs and expenses incurred by vendors, the company added.
UBS, Morgan Stanley and Citi will act as placing agents for the issuance.
Write to Yi Wei Wong at yiwei.wong@wsj.com
(END) Dow Jones Newswires
April 17, 2023 22:29 ET (02:29 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom
-
Albemarle Earnings: We Expect Improved Results In the Rest of Year Following Cyclically Low Profits