Finance Notes: AS Roma To Delist Publicly Traded Shares
Newspaper Il Sole 24 reported AS Roma President James Pallotta said that the Italian club plans to "delist its shares that are publicly traded." Pallotta, also the managing director at Boston-based Raptor Capital Management LP, bought control of the team with a group of U.S. investors last year. He said that sports teams are long-term investments that "aren’t suited to the stock market" (BLOOMBERG, 10/9). ... The city of Jinjiang in China's Fujian province "is home to the most sportswear brands in the country." In '11, Jinjiang boasted GDP of 100B yuan, which is one-nineteenth of the province's 1.9T yuan GDP. There are six listed sportswear firms in Jinjiang. Anta Sports Products Ltd., "one of the leaders" in the city, raked in 1.73B yuan in net profits on 8.9B yuan of sales in '11 (WANTCHINATIMES.com, 10/9).