<article>Quang Viet Enterprise Co Ltd, a garment manufacturer headquartered in Taiwan, announced last week that it plans to participate in a rights issue by King Hamm Industrial Co Ltd.</article>

Quang Viet Enterprise Co Ltd, a garment manufacturer headquartered in Taiwan, announced last week that it plans to participate in a rights issue by King Hamm Industrial Co Ltd.
The deal &#8211; which will be worth about $11.4 million &#8211; will give Quang a 42 per cent stake in the swimming and functional wear supplier.
King Hamm has two factory plants in Vietnam, supplying high-end swimwear and functional wear to global brands such as North Face Inc and Under Armour Inc.
In a filing to the Taiwan Stock Exchange, Quang Viet said, it intends to purchase 13.65 million new shares issued by King Hamm at NT$24.5 apiece. The acquisition is hoped to help Quang cope with industry trends, meet its long-term development needs, and expand production base in Vietnam, as reported by The Taipei Times.
Quang Viet operates the world’s second-largest down jacket business, supplying high-end down jackets for Nike, Adidas, North Face, and other global brands.
In October, Quang Viet announced that it would buy 60 per cent stake in Jordan-based Atlanta Garmet Manufacturing Co for US$2.7 million to expand its presence in the Middle East.
With these two deals, Quang Viet expects sales to grow 15 per cent next year. Atlanta is predicted to contribute $17 million in revenue and King Hamm could contribute revenue of between $35 million and $40 million, according to Quang Viet president Charles Wu, as cited by local media Apple Daily.
The company booked NT$8.88 billion in revenue for the period of January-October 2017, representing a 10.1 per cent increase from the same period last year.
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Vietnam: Garment firm Quang Viet to take 42% in King Hamm for $11m

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Vietnam: Garment firm Quang Viet to take 42% in King Hamm for $11m

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