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...
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