Sportswear retailer Pou Sheng Intl receives $1.4 bln privatization proposal

POU CHEN

21/01/2018 11:23

HONG KONG, Jan 21 (Reuters) - Hong Kong-listed Chinese 
sportswear retailer Pou Sheng International (Holdings) Ltd has 
received a proposal from Pou Chen Corp to be taken private that 
values it at around $11 billion ($1.4 billion), it said on 
Sunday in a stock exchange filing. 
    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) Ltd  0551.HK  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. 
    Citigroup is acting as financial advisor to Pou Chen. 
 
 (Reporting by Kane Wu; Editing by Susan Fenton) 
 ((kane.wu@thomsonreuters.com; +85228436590; Reuters Messaging: 
kane.wu.thomsonreuters.com@reuters.net)) 
 
Keywords: HONG KONG PRIVATIZATION/