An unnamed institutional investor sold 32 million shares in Li Ning Company on Friday, raising a total of HK$470 million ($60 3 million) The share price of the sportswear designer and retailer has performed well recently, providing a good opportunity for profit taking CLSA was the sole bookrunner for the deal
The deal, which represented a 3 1% stake in the company, launched after the market closed and remained open long enough to allow US and European investors to participate The shares were offered in a range between HK$14 50 and HK$15 20 apiece, with a corresponding discount range of between 3 6% and 8% to the latest closing price of HK$15 76 The...
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