A well-known shoe company has announced that it is preparing to delist from the Hong Kong stock market--- Fujian two workstations, one cold and one hot slide hot press machine
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A well-known shoe company has announced that it is preparing to delist from the Hong Kong stock market--- Fujian two workstations, one cold and one hot slide hot press machine
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If everything goes smoothly, Baidu, the second largest women's shoe retailer in China during peak hours, will be the second local women's shoe company to delist after Belle--- Fujian two workstations, one cold and one hot slide hot press machine
On the evening of November 29th, well-known shoe company Baidu International Holdings Limited and offeror Orchid Valley Holdings Limited issued a joint announcement, announcing that all of Baidu's issued shares will be acquired through a cash tender offer--- Fujian two workstations, one cold and one hot slide hot press machine
Formerly the second largest women's shoe retailer in China
Preparing to delist from Hong Kong stock market
At the moment of high light, Qianbaidu once ranked second in market share, only behind the "shoe king" Belle.
If everything goes smoothly, Baidu, the second largest women's shoe retailer in China during peak hours, will be the second local women's shoe company to delist after Belle.
Baidu stated that with the improvement of the economic environment and further enhancement of consumer confidence, the group is full of confidence in the long-term development of the Chinese consumer market. However, due to the continued pressure from the macro environment, in order for Baidu to remain competitive in the face of challenges, it is necessary to remain vigilant and implement structural transformation when needed, which will require years of significant investment and motivated employees.
Joint Announcement
However, given the downward trend in stock prices and the low liquidity of the shares, the listing status of Qianbaidu is no longer a viable source of necessary investment funds. In addition, due to low stock liquidity, employee incentive plans are currently insufficient to effectively attract and retain talent--- Fujian two workstations, one cold and one hot slide hot press machine
Glorious moment, one year's time
Market value increased from 960 million yuan to 7 billion yuan
Baidu was first listed in Singapore in 2003, relying on its parent company, Hongguo International.
In 2010, Hongguo International announced privatization, sold its loss making clothing distribution business, and went public on the Hong Kong Stock Exchange under the name of Baidu a year later. In just one year, the valuation of this company increased from 960 million yuan during privatization to 7 billion yuan.
The delisting of Qianbaidu is also expected by industry insiders. This company began to seek diversified transformation after its peak, and in 2015, Baidu invested approximately £ 100 million to acquire the old British toy manufacturer Hamleys; In 2017, it spent $79.4087 million to acquire 45.78% equity of Eaton International Education.
But the new business has not brought a turning point for Baidu.
In 2019, Baidu lost 400 million yuan to sell its toy business and announced its return to the footwear industry.
According to the data, Qianbaidu is a mid to high end women's shoe retailer and wholesaler in China, operating its own brands including Qianbaidu, Yiban, Sundance, Mio, Brigitte Misca, and Nairan--- Fujian two workstations, one cold and one hot slide hot press machine
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