KUALA LUMPUR: XiDeLang Holdings Ltd, a China-based sports shoes and apparel maker, yesterday confirmed The Edge weekly’s report that its largest shareholder HongPeng International Holdings Ltd does not have any plans to sell its stake.
“After having made due and diligent enquiry with our major shareholder, namely HongPeng, and the board of directors, we wish to inform that HongPeng has been receiving enquiries from external parties including private equity firms, but HongPeng has no intention of selling its stake at this juncture,” it said in an announcement to Bursa Malaysia.
HongPeng, an investment vehicle of XiDeLang’s managing director Ding PengPeng, holds a 54.55% stake in the company. XiDeLang came into the limelight last week after a vernacular newspaper reported that Navis Capital Partners, a Malaysia-based private equity firm, was looking at acquiring HongPeng’s stake.
The counter closed 1.5 sen or 3.75% lower to 38.5 sen yesterday with a total of 27.2 million shares changing hands.
This article appeared in The Edge Financial Daily, January 10, 2012.
“After having made due and diligent enquiry with our major shareholder, namely HongPeng, and the board of directors, we wish to inform that HongPeng has been receiving enquiries from external parties including private equity firms, but HongPeng has no intention of selling its stake at this juncture,” it said in an announcement to Bursa Malaysia.
HongPeng, an investment vehicle of XiDeLang’s managing director Ding PengPeng, holds a 54.55% stake in the company. XiDeLang came into the limelight last week after a vernacular newspaper reported that Navis Capital Partners, a Malaysia-based private equity firm, was looking at acquiring HongPeng’s stake.
The counter closed 1.5 sen or 3.75% lower to 38.5 sen yesterday with a total of 27.2 million shares changing hands.
This article appeared in The Edge Financial Daily, January 10, 2012.
