Slaughter and May, Hong Kong, advised UBS AG Hong Kong Branch (“UBS”) as the placing agent in relation to the placing of 100,000,000 shares of 361 Degrees International Limited (“361 Degrees”) by Ming Rong International Company Limited (the “Vendor”), and the subsequent subscription by the Vendor of the same number of new shares in 361 Degrees (the “Placing and Subscription”). The Vendor is wholly-owned by the trustee of a family trust set up by Mr. Ding Huihuang, the chairman and an executive director of 361 Degrees.
The Placing and Subscription completed on 7 May 2026. The placing shares represent approximately 4.6% of 361 Degrees’ total issued shares after the completion of the Placing and Subscription, raising approximately HK$611 million for 361 Degrees. 361 Degrees intends to use the net proceeds from the Placing and Subscription for funding for expansion of network of overseas markets and general working capital and other general corporate purposes.
361 Degrees is one of the leading comprehensive sportswear enterprises in China, owning a full industrial chain business covering product research and innovation, manufacturing, merchandise distribution and marketing, positioning for the mass market. 361 Degrees has been listed on the Main Board of The Stock Exchange of Hong Kong Limited (HKEX: 1361) since June 2009.
UBS is a licensed corporation under the Securities and Futures Ordinance and is licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance), Type 7 (providing automated trading services) and Type 9 (asset management) regulated activities.
Coleman Kam / Trainee