TPG Capital Backs China's Li Ning

TPG Capital and Singapore sovereign wealth fund GIC will invest about 750 million yuan ($115 million) in convertible bonds in Hong Kong-listed China sportswear brand Li Ning Co. Ltd, Reuters wrote Friday. Li Ning also said in a separate statement that TPG and its affiliates will buy about 5 percent of the existing issued share capital for about HK$349.8 million ($45 million), Reuters wrote.

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