Peak Sport privatisation bid

Ever Sound Development, the majority shareholder of Hong Kong-listed Peak Sport, is mulling a takeover bid.
If successful, a Peak Sport privatisation would lead to the company’s delisting from the stock exchange putting it in  private ownership.
In a statement filed with the SEHK, Peak Sport said Ever Sound has informed the company it is in the preliminary phase of considering proposing a scheme of arrangement with respect to the ordinary shares of the company.
“Since such preliminary consideration is still in progress at the date of this announcement, there is no certainty that the said proposed scheme of arrangement, privatisation and delisting will proceed,” the statement said.
Ever Sound currently holds about 61 per cent of Peak Sport’s shares.
Peak Sport designs, develops, manufactures, distributes and markets its sportswear products under the Peak brand, selling all of its products in China on a wholesale basis to distributors who operate, either directly or through third-party retail outlet operators, some 5000+ authorised Peak retail outlets.

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