Chinese footwear giant Yue Yuen accepted a bid for their shareholding of Pou Sheng International’s capital. Taiwanese Pou Chen, who actually own nearly 50 per cent of Yue Yuen, have taken such shares, which represent 42,61 per cent of the capital stock. They announced the bid on Sunday at Hong Kong Stock Exchange, where Pou Sheng’s value is estimated to be 11 billion Hong Kong dollars, that is, around 1,4 billion US dollars. Analysts warmly approved Yue Yuen’s action, while stressing the fact that “by doing so, the company will be able to focus on manufacturing, with no more concerns about retail”, pointed out UBS. On top of that, their stock went up again, over 15 per cent; likewise, Pou Sheng stock listing slightly increased. According to the bid statement, submitted to Stock Exchange authorities, Pou Cheng needs “relevant investments” to update their business, with regard to online competitiveness, and face the “unexampled difficulties and changes that are currently affecting industry, also taking into account the consumers’ demand”.
Chinese Yue Yuen and their shareholders ride on financial roundabout. The footwear giant “can focus on manufacturing now”
