Small Li Ning block sold at 4% discount
An institutional investor pockets $59 million from the sale of a 2% stake in the sportswear company.
An undisclosed institutional investor last night raised HK$460.9 million $59 million by divesting part of its stake in Li Ning through a placement û the second such sell-down in the Chinese sportswear company in just two months.
The 20.97 million shares were priced at the bottom of the indicated range at HK$21.98 for a 4% discount, or towards the low end of the discounts achieved on other Hong Kong placements this year. However, the fact that the price...
To continue reading, please login or register for free