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Pou Sheng International receives $1.4 billion privatisation offer

Staff Writer | January 22, 2018
Chinese sportswear retailer Pou Sheng International (Holdings) has received a proposal from Pou Chen Corp to be taken private that values it at around $11 billion ($1.4 billion).
Pou Sheng International
Acquisition   Chinese sportswear retailer
Pou Chen Corp has offered Pou Sheng International a cancellation price of HK$2.03 per share, which represents a premium of around 31.82 percent over Pou Sheng's last closing price.

Pou Sheng International shareholder Yue Yuen Industrial (Holdings) will sell its 62.41 percent stake in Pou Sheng to Pou Chen as part of the proposal at the cancellation price for a total of HK$6.8 billion, according to the stock filing. Pou Chen owns 49.99 percent of Yue Yuen Industrial.