Li-Ning seeks to raise new capital - sportstextiles: Lea SportsTextiles

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Li-Ning seeks to raise new capital

31/01/2013
Chinese sportswear firm Li-Ning plans to issue new shares to raise $240 million. It has said, in a statement to the Hong Kong stock exchange, that the new injection of cash will help it “optimise its branding and capital structure”.

The statement added that the money would also help Li-Ning carry out a transformation plan that it has under way.

Industry experts have said Li-Ning has been suffering from inventory problems because of over-expansion in China’s sporting goods industry, which is now hitting sales and profitability.

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