A Hong Kong-based financial service company registered in the Seychelles islands, Yucheng International, has agreed to acquire the 64.15 percent stake held by Pegasus Footgear Management in its shoe factory in Guangzhou, Pegasus International Holding, subject to various conditions. It would subsequently make a bid for the remaining shares of the publicly listed company. For reasons yet to be explained, the deal is reportedly priced at a 55 percent discount from the last share price of Pegasus on Oct. 8.

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