goldman-places-esprit-stock-at-29-discount

Goldman places Esprit stock at 2.9% discount

The small-size placement is done at a tight discount as stock moves off record highs.
An unidentified institutional shareholder last night sold HK$1.02 billion $131 million worth of shares in Esprit Holdings, the second placement in the fashion retailer in less than four months.

The sale came on a day when EspritÆs share price turned higher again after six days of mainly declines and could suggest that more shareholders are getting nervous about the current weakness in the market and are taking the opportunity to secure some profit on days of strength. This was the third sell-down by institutional investors in a Hong Kong-listed stock this year after placements in mobile operator Hutchison Telecommunications International and Chinese property developer Hopson Development last week.

Esprit hit an all time closing...
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