Hong Kong, China- Baker & McKenzie recently advised HKSE-listed Li Ning Company Limited (the “Company”), one of the leading sports brand enterprises in the PRC, in relation to its open offer of convertible securities in the principal amount of HK$1,847.8 million (US$ 236.9 million), which are convertible into shares in the capital of the Company.
The convertible securities were offered to the qualifying shareholders of the Company. The open offer was over-subscribed as the Company received applications which represent 3.54 times of the total amount of securities offered.
The Company intends to use the proceeds raised to support its business development, including the transformation plan, and to optimise its capital structure.
The Baker & McKenzie team was led by Hong Kong-based corporate partner Rossana Chu.
