Sitoy execs sell shares to boost liquidity

The luxury bag manufacturer, which boasts high-end retail clients such as Prada, held a secondary share offering that met with strong institutional investor demand.

Sitoy execs sell shares to boost liquidity

Sitoy Group Holding’s top executives sold 80 million shares in the Hong Kong-based luxury bag maker on Thursday to help boost the stock's liquidity, raising some $52 million in the process.

Chairman Yeung Michael Wah Keung and CEO Yeung Wo Fai sold 52 million shares and 28 million shares, respectively, at HK$4.95 a share, which was at the low end of the initial pricing range and represented a 10% discount to the March 5...

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