PEAK Sports raise 680 million Hong Kong dollars

PEAK, a leading sports apparel brand in China, has recently announced a capital fundraising of 680 million Hong Kong dollars with the money financed through placement agents China International Capital Corporation Limited and BOCOM International Holdings Company Limited.

The money raised will to be used for promoting their brand image and enhancing its global brand awareness. In addition, the money will also be used to boost overseas market operations.

Taking advantage of The Belt and Road Initiative strategy, PEAK has a real chance to establish its presence as a leading brand in the global basketball market, their CEO Xu Zhihua commented.

PEAK is speeding up its business promotion practices in countries and districts where PEAK have registered the trademarks locally.   

Xu also noted that the money raised showed that PEAK had gained support and approval from capital organizations and individual investors.  

PEAK is a sports apparel and footwear brand which has established partnerships with NBA, WNBA, NBA China, CBA and FIBA.

Source: Chinadaily

Proofread by Raymond Fitzpatrick