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2021-10-28

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China's Li Ning plans $1.4 bln share sale for international expansion

HONG KONG, Oct 28 (Reuters) - Chinese sportswear group Li Ning Co Ltd said on Thursday it planned to

China's Li Ning plans $1.4 bln share sale for international expansion

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Its stake in Li Ning will be diluted to 10.37% from 10.87% after the deal.</p>\n<p>($1 = 7.7779 Hong Kong dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02331":"李宁"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188882825","content_text":"HONG KONG, Oct 28 (Reuters) - Chinese sportswear group Li Ning Co Ltd said on Thursday it planned to sell HK$10.5 billion ($1.35 billion) worth of new shares to raise capital for international expansion and for investment in newly launched product categories.\nThe Beijing-based company plans to sell 120 million new shares, or 4.59% of the enlarged share capital, to its major shareholder Viva China Holdings Ltd, it said in a filing to the Hong Kong bourse.\nThe new shares will be issued at HK$87.50 apiece, or a 8.09% discount to Wednesday's close, with proceeds also to be used for investment in re-engineered infrastructure and supply chain systems, for brand building and working capital.\nViva will buy the new shares on completion of the sale of the same amount of existing shares at the same price to third-party investors. 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