Nomura released a research report saying that tep International (01368) sold the “K-Swiss” (K-Swiss) and “Palladium” (Palladium) brand businesses, or KP, to the controlling shareholder Ding's family yesterday (9th)
GLOBAL's total share capital, and the associated transaction cost is US$151 million. At the same time, TEP also issued HK$500 million convertible bonds to Hillhouse Investments (Hillhouse). As for Gao Lin Investment, KP will be redeemed
A $65 million convertible bond issued by Global. Nomura described the above move by TEP as a positive surprise to the controlling shareholders and a wise choice, so it set its target price at HK$6.8, giving it a “buy” rating.