By
Reuters
Reuters
Published
Mar 31, 2010
Mar 31, 2010
Shareholder to sell up to $99.5 million Yue Yuen shares
By
Reuters
Reuters
Published
Mar 31, 2010
Mar 31, 2010
HONG KONG, March 31 (Reuters) - A major shareholder of Yue Yuen Industrial (0551.HK) is selling up to HK$772.5 million ($99.5 million) shares of the sports shoe maker, according to a term sheet seen on Wednesday 31 March.
www.YueYuen.com |
Quicksilver Profits Ltd, controlled by the Tsai family, is selling 30 million shares at HK$25-HK$25.75 per share, the term sheet said. Citi is the sole bookrunner of the deal.
Yue Yuen is also planning an issue of $300 million American style call warrants and a $300 million 3-year loan to refinance existing debt, the term sheet said.
Yue Yuen shares ended at HK$27 on Tuesday 30 March. The stock was suspended on Wednesday 31 March pending a statement on price sensitive information. (US$1=HK$7.76) (Reporting by Donny Kwok; editing by Jacqueline Wong)
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