China’s Li Ning Mulls Privatizing Sportswear Firm: Reuters (2)

Chinese gymnast-turned entrepreneur Li Ning is considering taking his eponymous sportswear brand private from the Hong Kong stock market, Reuters reported, citing people it didn’t identify. Shares surged.

The founder is considering leading a consortium to buy out Li Ning Co., according to the report. The Beijing-based company selling athletic apparel and footwear has a market capitalization of HK$57 billion ($7.3 billion).

Several private equity firms including TPG, PAG and Hillhouse Investment have been approached to join the consortium, the report said. The discussions are in early stages and details have not been finalized, the report said.

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