Boyu invests in Hong Kong retailer Stelux
Boyu Capital has invested in Stelux Holdings through a subscription for HK$371 million ($47.8 million) of convertible bonds issued by the Hong Kong retailer. As part of the deal, CEO Joseph Wong said he planned to nominate Boyu’s Mary Ma and Alex Wong as non-executive directors. They will play prominent roles in Stelux’s planned expansion in mainland China.
The Hong Kong-listed company's stock closed up 10% at HK$2.53 on Tuesday in response to the news. The stock finished Wednesday morning trading up by nearly 3%. The bonds, bought by Boyu subsidiary Sapphire...
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