Wednesday, October 24, 2012

Esprit shares plunge on rights issue





Shares in Hong Kong clothing retailer were down 15.9 per cent in early trade on Wednesday on the company’s plans to raise about HK$5.2 billion through a rights issue as part of a transformation plan to revive the brand.


To restore the brand's leading position, the company launched a massive transformation plan to improve product quality and design, reduce production lead times, refurbish existing shops and hire new management.









via Business feed http://www.scmp.com/business/money/market-snapshot/article/1068540/esprit-shares-plunge-rights-issue

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