(25 June 2004 - Hong Kong) - Li Ning Company Limited('Li Ning' or the 'Group'; HKSE stock code: 2331), one of the leading sports brand enterprises in the PRC, announced today that its Hong Kong Public Offer and International Placing recorded encouraging subscription rates of over 132 times and over 11 times, respectively. Offer Price for its Initial Public Offer has been set at HK$2.15 per share.
The Share Offer comprises an International Placing and a Hong Kong Public Offer. A total of 246,516,000 shares will be issued under the Share Offer. As a result of the over-subscription in the Hong Kong Public Offer, the clawback mechanism has been applied. The total number of Offer Shares available under the Hong Kong Public Offer will be increased to 123,258,000 Offer Shares, representing 50% of the total number of Offer Shares available under the Share Offer, and the total number of Offer Shares under the International Placing has been reduced to 123,258,000 Offer Shares, representing 50% of the total number of Offer Shares available under the Share Offer.
Trading of the shares on the Main Board of The Stock Exchange of Hong Kong Limited is expected to commence on Monday, 28 June 2004. DBS Asia Capital Limited is the Global Coordinator, Bookrunner, Lead Manager and Sponsor of the Share Offer.Commenting on the subscription results, Mr. Li Ning, Chairman of the Group stated, "We are happy to see that investors have shown such great interest in our initial public offering. We hope that the response from both institutional andretail investors is a good indication of their understanding and recognition of the LI-NING brand and the Company's growth potential."
Looking ahead, we will continue our effective marketing and promotion activities and further enhance our nationwide distribution and retail network to build upon our prominent market presence. Upholding the mission of "LI-NING - Flying High in China Sports", we have every confidence in becoming the leader in the PRC's sports industry and operator and owner of international sports brands. We pledge ourselves to create and provide quality sporting goods for people pursuing a healthy lifestyle, and to cultivate promising value for our shareholders in the years to come," concluded Mr. Li.
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For further information, please contact:
iPR ASIA LTD
www.iprasia.com
Katie Tsui/Antonia Au/Harriet Lau
Tel:(852)21366955/31706750
Fax:(852)21366068
Email: katietsui@iprasia.com.hk/antoniaau@ipriasia.com.hk/harrietlau@iprasia.com.hk
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