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Volume 10 No. 22

Finance

Bundesliga club Borussia Dortmund will "pay its shareholder a dividend for the first time since the club went public in '00," according to REUTERS. The club's board of directors announced that only 11% or €3.7M ($4.8M) of its €34.3M ($44.2M) profit from the '11-12 season will go to shareholders. This means each shareholder will get a dividend payment of €0.06 ($0.07). The rest of the profits will be used to build up reserves. The club's shares are currently valued at €2.56 a piece. The IPO price 12 years ago was €11 a piece (REUTERS, 9/11).

Following the closure of its only store in Hong Kong, sports apparel brand Li-Ning announced it "will concentrate on the Chinese mainland market for its future development," according to Zhang Ye of the GLOBAL TIMES. A Li-Ning spokesperson confirmed that the store in Tsim Sha Tsui, a busy shopping area in Hong Kong, closed at the beginning of the month. The source added, "The operations in Hong Kong and overseas markets can be carried on only if the risks they bring are controllable. The company will instead focus on the business in the mainland according to its development strategy." According to the company's interim report released on Aug. 22, Li-Ning closed 1,200 stores worldwide in the first half of the year "in order to invest in more profitable stores" (GLOBAL TIMES, 9/12).