Peak Sport Products trade halted amid speculation of potential delisting

PUBLISHED : Monday, 23 May, 2016, 11:24pm
UPDATED : Tuesday, 24 May, 2016, 4:49pm

Trading of Peak Sport Products, a mainland China sportswear company, was suspended on Monday, pending a release.

The announcement triggered talk that the company may be seeking to delist from the Hong Kong stock exchange and seek a listing on the mainland share markets.

Mainland media on Monday reported that the sports brand had been preparing for a mainland share listing as its low valuation in Hong Kong makes it hard to raise funds offshore.

Joy Tsai, the company spokesperson, declined to comment on the report.

Peak, which is based in Fujian province, produces a well known mainland China footwear brand “PEAK”. The company debuted on the Hong Kong stock exchange in 2009.

The company’s share price has fallen 23 per cent in the past year. It closed at HK$1.92 on Friday in Hong Kong.