Shares of Nu Skin (NUS) rose in after hours trading after the personal care products company announced a strategic investment from a consortium of Chinese investors.

WHAT'S NEW: After the market close, Nu Skin announced that it entered into an agreement for a $210M strategic investment from Ping An ZQ China Growth Opportunity Limited, a consortium of Chinese investors led by Ping An and a group of investors affiliated with ZQ Capital limited. Under the terms of the deal, the firm is buying $210M in aggregate principal amount of 4.75% four year convertible senior notes with an initial conversion price of $46.50 per share. Nu Skin said it anticipates completing the sale of the notes within five business days.

MANAGEMENT COMMENTS: Commenting on the deal, Nu Skin Chief Financial Officer Ritch Wood said that the company expects the investment to be accretive for Nu Skin stakeholders, and that it plans to use the proceeds for repurchasing common stock and investing in its China operations.

WHAT'S NOTABLE: Wood added that the company will host roughly 20,000 "sales leaders and customers" from the Greater China region over the next two days at its convention in Hong Kong. The CFO said that, in addition, the company completed the introduction of ageLOC me, its customized skin care system, selling out a limited supply in China. "Based in part on this success, we currently anticipate delivering second-quarter revenue at the high end of, or slightly above, our previous guidance of $560M - $580M," concluded Wood. Analysts expect the company to report Q2 revenue of $558.35M.

PRICE ACTION: In after hours trading, Nu Skin Enterprises gained 5.68% to $43.