Global private equity fund TPG Capital and Singapore sovereign wealth fund GIC will invest about 750 million yuan ($146 million) in convertible bonds in Hong Kong-listed China sportwear brand Li Ning Co., the company said on Friday, reported Reuters.
TPG has agreed to subscribe to 561 million yuan of convertible bonds from Li Ning, while GIC's affiliate has agreed to subscribe to 189 million yuan of convertible bonds from the company, Li Ning said in a statement.
Friday, January 20, 2012
GIC to invest $146m in China sportwear firm
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