Casting a Strong Vote of Confidence in the Group's Promising Prospects
HONG KONG, July 31 /Xinhua-PRNewswire/ -- Xtep International Holdings Limited ("Xtep International" or the "Company", together with its subsidiaries the "Group", HKEx: 1368), a leading fashion sportswear enterprise in the PRC, is pleased to announce that Carlyle Investment Fund, the strategic investor of the Group, has increased its shareholding in Xtep International.
Carlyle Investment Fund ("Carlyle Fund") has recently acquired 6,675,000 shares of Xtep International at an average price of HK$2.9 per share, raising its stakes to a total of 202,430,000 shares. Since the Group's successful listing on the Main Board of the Hong Kong Stock Exchange on 3 June 2008, Carlyle has accumulated a total of 43,914,500 shares with its aggregate shareholding increasing from 7.21% to 9.2%. The total consideration amounted to approximately HK$140 million.
Regarding the share purchase, Mr. Ding Shui Po, Chairman and Chief Executive Officer of Xtep International expressed his sincere gratitude to Carlyle Fund for their continuous support. He said, "The presence of Carlyle Fund has added strategic value to our Group, reinforcing our corporate governance practices. Their recent act of share purchase showed their strong confidence in the Group's operations and promising prospects. With the steady growth of the PRC's economy that boosting the purchasing power of the PRC consumer, we expect the fashion sportswear industry in the PRC will continue to flourish. We will proactively seize opportunities to promote our Group's brand name and to strengthen our R&D capabilities as well as broadening our distribution network, in order to generate the best returns to our shareholders."
About Carlyle Investment Fund
Carlyle Investment Fund is one of the world's largest private equity firms, managing funds of more than US$82 billion. Carlyle Investment Fund mainly invests in a board range of sectors with exclusive geographical focus on China, India, Japan and South Korea.
About Xtep International Holdings Limited
Listed on the main board of the Hong Kong Stock Exchange on 3 June 2008, Xtep International is the leading fashion sportswear enterprise in the PRC. The Group principally engaged in the design, development, manufacture and marketing of sportswear and sold under the Xtep brand, Disney Sport brand and the Koling brand. The Group has developed an extensive nationwide distribution network covering 31 provinces, autonomous regions and municipalities in the PRC with 4,678, 265 and 50 Xtep, Disney Sport and Koling retail outlets respectively. Xtep International has established its own production facilities in Quanzhou, Fujian province with annual actual production capabilities of 10 million footwear and 1 million apparel products.
For further information, please contact:
Porda International (Finance) PR Group
Ms. Helen Chung
Tel: +852-3150-6730
Email: helen@pordafinance.com.hk
Ms. Kylie Yeung
Tel: +852-3150-6770
Email: kylie@pordafinance.com.hk
Ms. Ada Leung
Tel: +852-3150-6732
Email: ada@pordafinance.com.hk
Fax: +852-3150-6728
