Founder offers to take Peak Sport private

Hot on the heels of Dalian Wanda Commercial Properties, the Chinese sports manufacturer wants to delist from Hong Kong. A domestic listing is widely expected to follow.
NBA star Dwight Howard is one of Peak Sport's foreign spokespeople
NBA star Dwight Howard is one of Peak Sport's foreign spokespeople

Peak Sport Products looks set to become the second company to delist its shares from Hong Kong in less than two months after the Chinese sportswear manufacturer's founder and chairman made a HK$2.4 billion $310 million offer to take the company private. 

The management buyout offer announced on Tuesday comes two months after news broke that Xu Jingnan, who founded Peak Sport in 1989 and took the company public twenty years later, was in preliminary talks for a take-private. Peak Sport's share price has risen by 22% since then. 

Peak Sport's take-private attempt follows that of property-to-entertainment conglomerate Dalian Wanda Group...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222