China sports brand Xtep at 6-week low, says no decision on acquisition

Xtep International Holdings

11/04/2019 03:50

** Hong Kong shares of Xtep International Holdings Ltd
 1368.HK  fall as much as 3.5 pct to HK$5, the lowest since Feb.
25, after the Chinese home-grown sport brand says it has not
entered into any acquisition agreement
    ** Fujian-based company says it envisions to transform from
a single-brand company to a multibrand portfolio group and it
will continue to explore and evaluate multiple potential merger
and acquisition opportunities  urn:newsml:reuters.com:*:nFWN21S0GA
    ** Xtep says no decision has been made nor has it entered
into any agreement at this point of time
    ** As of last close, the stock had risen 21.9 pct so far
this year
    ** Xtep has underperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 8.9 percentage points in the past one
month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  falls 1.1 pct, and the China enterprises
index  .HSCE  slides 0.8 pct


 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)