Controlling shareholder of ANTA Sports plans sale of $1.49 bln shares

Reuters2021-04-21

HONG KONG, April 21 (Reuters) - ANTA Sports Products Ltd, China's home grown sportswear maker, said on Wednesday that its controlling shareholder has planned sale of about 3.26% stake in the company for HK$11.57 billion ($1.49 billion).

Anta International Group Holdings Ltd has agreed to sell 88 million existing shares in a placement at HK$131.48 each, representing a 7.5% discount to Tuesday's close, which will reduce its direct shareholding to 47.56%, from 50.81%.

The controlling shareholder also through two subsidiaries holds an indirect 10.23% stake in the Hong Kong-listed company.

ANTA Sports said it did not expect the placement to have any significant impact on its daily operations or any change to its key management personnel.

($1 = 7.7616 Hong Kong dollars)

(Reporting by Donny Kwok; Editing by Shailesh Kuber)

((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters Messaging: donny.kwok.reuters.com@reuters.net))

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