Privatisation of Pou Sheng off after shareholder vote
13/04/2018
In January, footwear manufacturing group Pou Chen made an offer of nearly HK$11 million ($1.4 billion at the time) to privatise Pou Sheng, one of its subsidiary companies.
As part of this deal, Pou Sheng’s largest shareholder, Yue Yuen, also a subsidiary of Pou Chen, agreed to sell its 62.41% stake in the company.
Pou Sheng was spun off from Yue Yuen and listed separately in 2008.
Pou Sheng has said neither Pou Chen, Yue Yuen, nor any other related party in the privatisation proposal can propose another deal within the next 12 months.
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