Li Ning Co.
Convertible deal gets China's Li Ning running
Li Ning Company, one of the largest sportswear retailers in China, rose sharply on 20 Jan. after selling HKD922 million (USD118.9m) of convertible bonds to investment firm TPG and the sovereign fund of Singapore.
The Beijing-based company, which has recorded declining orders since last year, expects to use the funds for brand development, sports sponsorship, research and design, new stores and working capital.
Viva China stops bid for Li Ning's firm
Viva China, listed on the Growth Enterprise Market and controlled by gymnast turned businessman Li Ning and his brother Li Chun, has announced it has stopped pursuing a stake in his eponymous sportswear maker, Li Ning Company.
In a filing late on Thursday, Viva China, which deals in clean energy, sports business and property, said both companies had agreed not to proceed with the acquisition given "recent changes in the market and economic conditions".
China's Li Ning loses 3 executives
Three executives of Li Ning Co. have left the Chinese sports-apparel maker, potentially testing the company's plans to grow overseas and at home.
Guo Jian Xin, COO, Fang Shih Wei, chief marketing officer, and Lin Li, head of Li Ning's e-commerce department, have all "resigned from their respective positions with the Group to pursue their personal interests," according to a company statement to the Hong Kong Stock exchange.
China's Li Ning makes US push
Li Ning Co. is increasing its investment and marketing in the US as the Chinese sports-apparel maker attempts to become a global brand.
Li Ning will invest USD10 million in its US business this year and enter a joint-venture with Acquity Group LLC to expand US distribution, Li Ning CEO Zhang Zhiyong said in an interview on Tuesday.
China's Li Ning takes on Nike and Adidas, to open 400 outlets by year-end
Li Ning Co., one of China's leading sports-apparel makers is expanding in the country's biggest cities to win market share, as competitors are turning their focus to the country's less developed markets, CEO Zhang Zhiyong said.
