Yue Yuen pockets $361 million from equity and CB sale
Strong demand boosts the size of the convertible bond by 84%. The share component attracts less interest.
Hong Kong-listed athletic shoe maker Yue Yuen Industrial has raised $361 million from a combined sale of new shares and convertible bonds, which was the first such trade in Hong Kong since the beginning of 2004.
The Hong Kong-dollar denominated offer, which was completed last Friday, came on the heals of a strong run-up in the share price over the past four months and only six months after the controlling shareholders cashed in part of their holdings, which likely contributed...
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