Anta Sports Drops After $1.5 Billion Placement at 8.8% Discount
- It is Hong Kong’s largest additional share sale since 2021
- Company seeks to use funds to repay debt, general purposes
Anta Sports flagship store in Shanghai.
Photographer: Qilai Shen/BloombergAnta Sports Products Ltd., a Chinese developer of sportswear, declined the most in six months after raising about HK$11.8 billion ($1.5 billion) through a top-up placement in Hong Kong, completing the city’s largest additional share sale since October 2021.
Shares closed 7.4% lower at HK$100.70 on Tuesday. That’s still higher than the HK$99.18 price they were sold in the placement, which priced at a discount of 8.8% to Monday’s close.
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Anta Sports Drops After $1.5 Billion Placement at 8.8% Discount