STOCKS | Non-Standard Apparel Buys More Li Ning Shares For HK$247 Million

Non-Standard Apparel (00933) said it bought another 18.53 million Li Ning (02331) shares on the open market through the Hong Kong Stock Exchange on Thursday and Friday last week for about HK$247 million, at an average price of HK$13.35 per share. ETNet reported that from August 28 to Friday last week, the group had accumulated purchases of 65.403 million Li Ning shares, or 2.53% of the company, for HK$874 million at an average price of HK$13.36 each. It said it now holds about 18.3% of Li Ning. The acquisition has become a major transaction, but written approval from a shareholder holding 58.37% of the voting rights means no shareholders' meeting is required under Rule 14.44 of the listing rules.