HK Stock Market Move | XTEP INT'L(01368) falls by nearly 4% Company plans to raise nearly 1 billion Hong Kong dollars through additional share issuance and bond issuance for brand development and operational funds.

XTEP INT'L (01368) fell nearly 4% again, dropping by 3.61% to 5.34 Hong Kong dollars as of the time of writing, with a turnover of 72.3462 million Hong Kong dollars. In terms of news, XTEP INT'L announced that it plans to raise funds by issuing shares and convertible bonds, with a net proceeds of approximately 985 million Hong Kong dollars. Among them, the estimated net proceeds from subscriptions is about 493 million Hong Kong dollars, and the estimated net proceeds from bond issuance is about 492 million Hong Kong dollars. XTEP INT'L plans to use the funds to further develop the main brand of Tebu and the DTC business model of Saucony, strengthen the brand promotion and product portfolio of Saucony, and use it as operating funds for general business purposes. Shenwan Hongyuan Group previously stated that since its acquisition, Saucony's development momentum has been strong, maintaining high-speed growth every year, and retail sales successfully exceeded 1 billion in 2024. It is expected that Saucony will become an important engine of growth for the company in the next 5 years. The bank pointed out that the company continues to optimize its multi-brand matrix, divesting from fashion sports brands in 2024, focusing on core running business, optimizing resource allocation, and consolidating its position as a professional sports advantage.