Esprit completes third placement in one year

The Hong Kong-listed, European clothing retailer returned to the equity markets yesterday.

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.

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