A 20 million share placement for Esprit Holdings was completed yesterday Thursday at a slim 3.7% discount to spot. Pricing was aggressive given the stock had surged 8.9% on the day and marks the third placement in the space of a year.
JPMorgan led the deal, which raised HK$576 million $74 million on pricing of HK$28.80 per share. This was the tight end of a HK$28.84 to HK$28.80 range.
Books were kept open for about five hours in order to catch US investors and closed 6 times oversubscribed with demand from about 56 accounts. Prior to allocations, the book had a split of about 40% Asia...
