[ET Net News Agency, 26 July 2016] Peak Sport Products (01968) said offeror Xu's Sport Company Limited proposes to take Peak Sport private by way of a scheme of arrangement at HK$2.6 in cash for each scheme share.
The offer price represents a premium of about 10.6% over the closing price of HK$2.35.
Upon the scheme becoming effective, it is anticipated that listing of the Peak Sport shares on the Stock Exchange will be withdrawn.
Xu Jingnan, the Chairman of Peak Sport, holds 40% interests in the offeror. Controlling shareholder Ever Sound Development Limited, Alpha Top and Brilliant Lead are parties acting in concert with the offeror.
Peak Sport had applied for the resumption of trading in shares this afternoon. (HL)
The offer price represents a premium of about 10.6% over the closing price of HK$2.35.
Upon the scheme becoming effective, it is anticipated that listing of the Peak Sport shares on the Stock Exchange will be withdrawn.
Xu Jingnan, the Chairman of Peak Sport, holds 40% interests in the offeror. Controlling shareholder Ever Sound Development Limited, Alpha Top and Brilliant Lead are parties acting in concert with the offeror.
Peak Sport had applied for the resumption of trading in shares this afternoon. (HL)