China-based sportswear brand Peak Sport Products has said “it may be taken private and delist from Hong Kong”, according to a recent Reuters report.
As stated in the report (though the decision is yet to be finalized) Peak's controlling shareholder Ever Sound Development Ltd is considering plans to take the company private.
Since November, 2015, at least 10 other Hong Kong listed Chinese companies have revealed plans to “either delist, spin off assets and list them in China or sell a controlling stake to a mainland-listed company”.
Wang Jianlin, CEO of Dalian Wanda, is said to be preparing to take Dalian Wanda Commercial Properties private, since he thinks it is undervalued on the Hong Kong listings.
Peak Sport has been a sponsor of U.S. basketball teams Houston Rockets, Miami Heat and San Antonio Spurs. Its sponsorship also imvolves players including Tony Parker of the Spurs and Dwight Howard of the Rockets.
Proofread by Sean O Diobhilin