Anta Slides as $1.2 Billion Stake Pops Up in Clearing System
- Anta official’s clarification came after market close
- Entry echoes July episode involving Berkshire’s stake in BYD
An Anta Sports Products Ltd. store in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Anta Sports Products Ltd. slid Wednesday after the entry of a sizable stake in Hong Kong’s clearing system stoked speculation of a sale by a key shareholder.
Shares of the Chinese sportswear maker slumped 3.6% in Hong Kong to its lowest since Jan. 10. The move came after exchange data as of Tuesday showed a 3.11% stake, or 84.5 million shares worth $1.2 billion, entered the Central Clearing and Settlement System.