Li Ning plans to sell HK$10.5 billion in shares for international expansion

Fashion Without Borders learned that Li Ning recently said in a document filed with the Hong Kong Stock Exchange that it plans to issue 120 million new shares to its major shareholder, Extraordinary China, accounting for 4.59% of the expanded share capital. It is reported that the total proceeds from the subscription are approximately HK$10.5 billion, and the proceeds of the offering are intended to be used for international expansion, restructuring infrastructure, brand building and general working capital. Extraordinary China will purchase new shares after completing the sale of the same number of existing shares to third-party investors at the same price. Upon completion of the Placing, Extraordinary China's shareholding will be reduced from the original 10.87% to 6.06%.

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