HONG KONG Oct 22 Esprit Holdings Ltd
on Monday said in a filing with the Hong Kong Stock Exchange
that it is proposing a rights issue of between HK$5.17 billion
and HK$5.25 billion.
It said it is proposing the issue at HK$8 per rights share
on the basis of one rights share for every two existing shares.
The company said the issue is to give the company financial
flexibility in rebuilding its brand, overhauling its product
engine, refurbishing stores, developing the supply chain, paying
for expansion plans and for general working capital.
The company said shareholder approval is not required.
(Editing by Mark Potter)