​xtep int'l (01368.HK) announced that it is currently implementing the transition service agreement and other arrangements with Ding Shun Investment. It is expected that the sale will be completed around the end of November 2024, and special dividends will be declared and distributed after the completion of the ​trade.

The company stated that it has completed the issuance of convertible ​bonds amounting to 0.5 billion yuan. At the same time, KP Global has also completed the early redemption of GESWEY convertible ​bonds, totaling 0.154 billion US dollars, equivalent to the cumulative losses since the acquisition in 2019, along with the value of capital expenditures and operating funds as of the end of March 2024; and the amount paid by the company for the early redemption of GESWEY convertible ​bonds. After the completion of the sale, KP Global will issue KP convertible ​bonds to the company to replace the outstanding amount. (vc/k)

​xtep int'l 0.154 billion US dollars, (equivalent to the cumulative losses since the acquisition in 2019, along with the value of capital expenditures and operating funds as of the end of March 2024; and the amount paid by the company for the early redemption of GESWEY convertible ​bonds). After the completion of the sale, KP Global will issue KP convertible ​bonds to the company to replace the outstanding amount. (vc/k)

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