Esprit completes placement

The Hong Kong and London listed retailer raises $80.3 million from a block trade.

Merrill Lynch kept the primary equity markets busy for a second day running in Asia this Wednesday with the completion of a 42.5 million share deal for Esprit Holdings. The majority shareholder Great View International sold down a 3.7% stake in the group at HK$14.70 per share, representing a 4.2% discount to the HK$15.35 close.

Like placements for Sinopec and Yuen Yuen Industrial the previous day, Esprit's transaction has come off the back of a strong share price performance. Year-to-date, the stock is up about 16%, outperforming the Hang Seng Index of which it is a constituent member.

Analysts say this is largely because the group is primarily a...

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