Peak Sport Products Co., the athletic apparel retailer from China, has plans of going public soon!
If sources close to the matter are to be believed, the sportswear maker is set for an initial public offering (IPO) of A-shares as early as in 2022.
The firm was, reportedly, valued at 9 billion yuan (US $ 1.4 billion) very recently. In fact, the athletic apparel brand is in talks with an adviser so as to raise fresh capital before going public.
An official confirmation on the same is, however, awaited.
Sources, who wished to remain anonymous, also said that deliberations on the size and time frame of raising the capital are still in initial stages and may not involve any transactions.
Here it is important to note that following its delisting from Hong Kong’s stock exchange back in 2016, Peak Sport Products Co. had succeeded in raising 2.5 billion yuan to seek a domestic listing. This is according to a press release in company’s official WeChat account.
Started in 1988, the company is known for designing, making and distributing sportswear and footwear.