Bosideng To Acquire 2 Female Apparel Makers

Date:2011-11-02     Source:hangmeihouhaizhen  Text Size:

November 1 -- Bosideng International Holdings (RCode:3998:) said wholly-controlled subsidiary Jessie International Holdings will spend between 892.5 million yuan and 945 million yuan to acquire two female apparel makers, reports, citing a company filing.

Jessie International will fully acquire Dihui Limited, and a 70 percent stake in Langhui Global, the owners of the Jessie and Le Mauve brands.

Through the end of September, the target companies had 81 self-managed outlets, and 172 franchised stores, bringing the total number of outlets owned by Bosideng to 253.

Bosideng will issue 235 million shares to the two target companies at 3.1 yuan per share, with the remaining 728.5 million yuan of the consideration to be paid for in cash.

The shares to be issued account for 2.93 percent of the post-issuance total equity, and the issue price represents a 49.76 percent premium over the closing price of HK$2.07 last Friday.

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