Li Ning Company Limited (HKG:2331) announced that Li Ning, the Chairman and an executive director of the Company, agreed to sell entered 53 million shares, representing 5.02% of the existing issued share capital of the Company, to TPG ASIA for a consideration of HK$349.8 million (representing HK$6.6 each).

Li Ning also agreed to sell an aggregate of 4 million shares (representing 0.38% of the existing issued share capital of the Company) at HK$6.6 per share to each of Zhang Zhiyong, the Chief Executive Officer and an executive director of the Company, Chong Yik-kay (the Chief Financial Officer and an executive director of the Company) and other two senior staff members.

After the completion of the disposal, Li will be deemed to be interested in 25.4% of the existing issued share capital and 22.83% of the enlarged issued share capital of the Company upon full conversion of the convertible bonds. TPG will hold 5.02% of the existing issued share capital of the Company. Upon the full conversion of the convertible bonds, TPG will hold 12.1% of the enlarged issued share capital of the Company.