HONG KONG Nov 14 A former senior executive of
Esprit Holdings Ltd paid HK$271 million ($35 million)
to increase his holding in the fashion retailer to 5.99 percent,
according to a disclosure from the Hong Kong bourse on
Michael Ying increased his holding in Esprit to 116.2
million shares as of November 7, at an average price of
HK$11.669 per share, from 93 million shares or 4.79 percent,
according to the disclosure.
Esprit, which competes with the likes of U.S. group GAP Inc
and Japan's Fast Retailing Co Ltd, last month
proposed a one-for-two rights issue of new shares to existing
shareholders to raise up to HK$5.25 billion to help rebuild its
brand, which the company last year said had "lost its soul."
Its shares closed down 2.8 percent on Wednesday at HK$10.62,
lagging a 1.2 percent gain in the benchmark index.
($1 = 7.7504 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Anne Marie Roantree)