Menu
Finance

Chinese Sportswear Brand Li Ning's Shares Tumble 8% On Fundraising Plan

Chinese sportswear brand Li Ning's shares tumbled 8% to "close at their lowest in a decade after the troubled Chinese sportswear brand announced moves to raise" up to $220M in an "open offer of shares," according to Waldmeir & McGee of the FINANCIAL TIMES. The Hong Kong-listed company plans to offer up to 652 million shares at HK$2.60 ($.13) each -- a discount of 22% on their "undisturbed" price -- "on the basis of five shares for every 12 existing shares." The company said it had "laid a solid foundation" for a new phase of growth that will begin next year, "and the money raised would be used to support that growth and to 'optimise capital structure.'" Founder & Chair Li Ning said, "Next year will mark the beginning of the group’s growth phase." Investors "appeared unconvinced," with shares tumbling as much as 11.7% on Wednesday "as they resumed trading from a suspension implemented" last Friday (FT, 12/17).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2014/12/18/Finance/Li-Ning.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2014/12/18/Finance/Li-Ning.aspx

CLOSE