GIC invests S$38 million in Li Ning

The Government of Singapore Investment Corp (GIC) will invest around 189 million yuan (S$38 million) in Li Ning through a convertible bond, the Chinese sportswear maker said yesterday.

GIC will own around 8 per cent of the sportswear maker if the bond is fully converted. The five-year bonds, which pay annual interest of 4 per cent, are convertible at an initial price of HK$7.74 a share, Li Ning said.

ORIGINAL SOURCE
Content used in this not-for-profit blog remain the property of their respective owners.