Anta Sports Shares Gain After Gyrating in Wake of Sales Data, Convertible Bond Plan
Zhang Yushuo
/SOURCE : yicai
Anta Sports Shares Gain After Gyrating in Wake of Sales Data, Convertible Bond Plan

(Yicai Global) Jan. 14 -- The stock price of Anta Sports Products, the Chinese sportswear giant that snapped up Finland's Amer Sports for USD5.2 billion last year, fluctuated today after the firm released figures for its Fila and own brand goods and announced a plan to sell convertible bonds.

Shares of Anta [HKG:2020] locked in a 0.3 percent gain to HKD75.45 (USD9.70) at the close of trading in Hong Kong, after see-sawing between a retreat of as much as 4 percent and an increase of nearly 1.3 percent. The benchmark Hang Seng Index ended a little more than 0.2 percent lower.

Sales of Anta's high-end Fila brand soared between 55 percent and 60 percent last year from 2018, while that of its Anta brand products rose between 10 percent and 20 percent, the Xiamen-based company said yesterday. Today, it announced a plan to issue EUR1 billion (USD1.11 billion) in convertible bonds that may be swapped for up to almost 3 percent of the company's expanded share capital, according to Reuters.

The Fila line's sales jumped between 50 percent and 55 percent in the fourth quarter from a year earlier, while Anta brand's turnover rose between 10 percent and 20 percent, the company said.

In its semi-annual earnings report for last year, Anta released Fila's results separately for the first time since buying the brand in 2009. Fila had CNY6.5 billion (USD942.9 million) in operating revenue in the first half, up about 80 percent over the same period in 2018, making up 44.1 percent of the company's total revenue, and CNY2.0 billion in operating profit, up nearly 81 percent.

Fila formed in Italy in 1911, and Anta bought the label for CNY332 million (USD48.2 million). It had 1,788 branded stores in the Chinese mainland, Hong Kong, Macau and Singapore as of the first half of last year, as against 1,652 at the end of 2018.

The brand's transaction volume surged over 16-fold in one day during China's mid-year 618 shopping festival last year, during which sales of its new Ray shoes range alone multiplied by 49 times.

Editor: Ben Armour

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Keywords: Anta , Fila , Sports