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SYDNEY - Australian sporting goods and clothing retailer Rebel Sport Ltd said today it has received a proposal in relation to the future of the company.
Shares in Rebel were placed on a trading halt at the request of the company until it makes an announcement on the proposal or until Wednesday morning, whichever comes first.
Rebel, which is majority owned by electrical and furniture retailer Harvey Norman Holdings Ltd, has stores throughout Australia and New Zealand.
The company said in July its fourth-quarter sales rose 25.2 per cent as the soccer World Cup contributed to increased purchases by football supporters.
Its shares last traded at A$4.35, ($5.05) having risen from levels around A$3.35 at the end of August. The company has a market capitalisation of nearly A$350 million.
- REUTERS
