At 4 pm Yesterday, Peak Sports, whose stock code is [01968.HK], was delisted from HKEx, meaning Peak has finished its privatization process.
In September 2009, Peak was listed in Hong Kong, but the company's share price was unsatisfactory. After China issued the documents that gave support to the development of the sports industry, it ushered in a golden age. Domestic Sports Concept Stocks are greatly favoured by investors. The sports industry is regarded as a gold mine in the capital market.
In contrast, Peak has been dedicated to the sports industry for many years, but its investment value was underestimated. It has been difficult for the company to effectively use its capital. This was affecting the development of the company. Therefore, the largest shareholder, the Xu Family, proposed that Peak should implement the privatization plan.
In the privatization process, many capital giants intend to cooperate with Peak, willing to participate in the privatization of investment.
"After privatization, Peak will implement a multi-brand strategy, improving the international strategic layout of the sports equipment industry. The CEO of Peak, Xu Zhihua said. “Through the acquisition and investment in excellent sports equipment companies across the world, Peak plans to implement a multi-brand strategy. Our goal is to make Peak become an international Sports Industry Group instead of an excellent international Sports Equipment Supplier.
Proofread by Sean O Diobhilin