-- Legendary Chinese gymnast Li Ning is considering raising his holding in the sports apparel company that he founded to have more control over future strategy, according to people familiar with the matter.Li is weighing options, including possibly bringing in private equity partners to help finance a deal to increase his stake in Li Ning Co., the people said, asking not to be identified discussing confidential information.Li has a stake of about 10.
Founded by Li in 1990, Li Ning was the worst performer on Hong Kong’s Hang Seng Index last year, slumping 69% and wiping out HK$123 billion in market value. Li Ning’s revenue totaled 27.6 billion yuan in 2023, while net income slid more than 20% to 3.2 billion yuan.GameStop shareholder quickly drops ‘Roaring Kitty’ fraud suit
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