Tebu Won A High Position Of HK $1 Billion, And Its Investment Market Value Once Exceeded HK $30 Billion, A Record High

Today, TEB International announced that Hillhouse group has established a strategic cooperative partner with Tebu global. Accordingly, Hillard will invest US $65 million (about HK $505.7 million) in TEPCO global to jointly develop the global business of TEB's "gasway" and "Paladin" brands.

According to the announcement, Hillhead will subscribe for the zero coupon convertible bonds with a total principal amount of US $65 million issued by TEPCO international. After full conversion of convertible bonds at the exchange price, TEB international will issue a total of 15000 exchange shares, equivalent to about 25% of the issued share capital after the issuance of the convertible bonds and 20% of the issued share capital of the company after the issuance of the convertible bonds. After the full conversion of convertible bonds, the stake of TEPCO international in TEPCO global will be reduced to about 80%.

At the same time, Hillhouse also entered into another subscription agreement for the convertible bonds issued by Tebu group, with a total investment principal of HK $500 million. According to the announcement, about 54.36 million shares of convertible bonds will be issued after the initial share price is converted into convertible bonds, which is equivalent to about 2.07% of the existing issued share capital of TEB international and 2.03% of the company's issued share capital after the issuance and exchange of shares. The initial exchange price is HK $10.244 per share, which is about 15.4% higher than the closing price of HK $8.88 per share on June 11.

The net proceeds from the issuance of convertible bonds, which will be used for refinancing existing debt, working capital and other general corporate purposes, will be about HK $499 million, according to TEPCO.

That is to say, the total amount of investment in this special step by Hillhouse is HK $1055.7 million.

Tebu also stressed that the group regards Hillhead as a strategic investor. Its in-depth vertical knowledge of the consumer service industry, as well as its extensive online capabilities and offline networks, will bring innovative elements to the business operation of the group and the "gasway" and "Paladin" brands.

Affected by the above news, the stock price of TEB international rose sharply, opening up nearly 15% this morning. The intraday increase was as high as 30.18% to HK $11.56, a record high. At the same time, its market value also exceeded HK $30 billion. As of today's closing, the stock price of Tebu narrowed to 20.72%, with a share price of HK $10.72 and a market value of HK $28.107 billion.

It is reported that Tebu attaches great importance to the development of multi brand strategy, and has four international famous brands, including K-Swiss, palladium, SAUCONY and Merrill. Some analysts believe that, with the help of the high position, Tebu international may become the second "Anta".