I. T Completes Delisting From Hong Kong Stock Exchange
Published
Apr 30 2021 at 9:54 AM GMT
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- After making the decision to privatize the company back in December last year, Hong Kong-based fashion retailer IT has now announced the completion of its delisting from the Hong Kong Stock Exchange.
- The offer to privatize came from the company founder Sham Kar Wai's very own Brooklyn Investment Limited, which partnered up with private equity and investment firm CVC Capital Partners.
- At roughly $3 USD per share, the deal came to $168 million USD, and all shareholder payments are expected to be completed by May 7"h support that the privatization received from our shareholders has been very encouraging," Sham said.
- "This is an important milestone as we undertake a long-term transformation of our businesses.
- T' decision to delist comes following a turbulent two years for the company, seeing decreased sales since 2019.
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- Published Apr 30, 2021 9:54 AM GMT