Nu Skin receives $210 mln investment for China expansion

By

Benjamin Fitzgerald

Published
Jun 17, 2016

Nu Skin Enterprises Inc. has inked a $210 million investment deal in a bid to grow operations in China. The multi-million dollar cash injection came from Ping An ZQ China Growth Opportunity Ltd. 

The investment firm consists of a consortium of experienced Chinese investors led by Ping An of China Securities (Hong Kong) Company Ltd. and a group of additional investors affiliated with ZQ Capital Limited.

“Ping An and ZQ Capital bring significant local market knowledge and valuable expertise that we believe will positively impact our long-term growth opportunities in this important region,” said Nu Skin chief executive officer Truman Hunt, in a press release.

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“We plan to use the proceeds for repurchasing common stock throughout the remainder of the year and investing in our China operations,” said Nu Skin chief financial officer Ritch Wood in a statement.

Under the terms of the investment, Ping An ZQ China Growth Limited is purchasing $210 million in aggregate principal amount of 4.75 percent, four-year convertible senior notes with an initial conversion price of $46.50 per share. The convertible notes will be general unsecured obligations of Nu Skin.