Xtep International Holdings (HKG:1368) agreed to issue and allot 90,909,000 new shares to Group Success Investments for an estimated HK$493 million in net proceeds at HK$5.50 apiece on Sunday.
The new shares to be allotted by the company represent 3.28% of its enlarged issued share capital.
The company also agreed to issue HK$500 million 1.5% convertible bonds due in 2026, expecting to raise HK$492 million in net proceeds. The company will apply to the Vienna Stock Exchange for the listing of the bonds.
The bonds can be converted into up to 79,051,383 new shares of the company upon full conversion, representing 2.86% of the enlarged issued share capital of the company.
The sports equipment company plans to use the proceeds for business development and working capital.
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