Li Ning Company is looking to net HK$440 million(US$56.4 mm) by listing in Hong Kong. The Chinese brand and retailer is selling25% of itself in an offering scheduled to close Friday, June 18. Trading on theSEHK is expected to begin on June 28.

Founded in 1989 following Olympic gold medalist LiNing’s retirement from gymnastics, Li Ning Company had sales of 1.28 billionrenminbi (US$154.7 mm) in 2003, vs. CNY958.0 million in 2002 and CNY734.9million in 2001. Net profit was CNY94.0 million (US$11.4 mm)in 2003, CNY66.9 million in 2002 and CNY49.6 million in 2001. The groupprojects net earnings of CNY122.5 million before extraordinary ... Log in to view full article.