According to several people familiar with the matter, Li Ning, a Chinese billionaire entrepreneur and former Olympic champion, is considering privatizing his sportswear company of the same name.
Sources said that Li Ning is considering leading a consortium to acquire Hong Kong-listed Li Ning Co., Ltd., thus opening a new chapter. As of Monday's close, Li Ning's market capitalization was HK$52.85 billion.
In 1988, Li Ning retired from her glorious gymnastics career. A few years later, Li Ning founded the company, which was listed in Hong Kong in 2004. The company's 2023 interim report shows that he holds slightly more than 10% of the company's shares.
Two people familiar with the matter said that Li Ning has contacted a number of global and regional private equity firms, including TPG, PAG and GaoLin Capital, to see if they are interested in joining as investors.
Sources said discussions on Li Ning's privatization are still in the early stages, and details have yet to be finalized. Due to the secrecy of the information, the source declined to be named.