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Li Ning rose 2% boosted by horizontal takeover expansion

Source: Internet
Author: User
Keywords HONG Kong dollar horizontal move
Tags company company announced different high market market value
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Li Ning, which recently hit a new 14-month high of HK $23.5, has rallied 2.33% to 22 Hong Kong dollars, winning the market, selling 510,000 shares, or buoyed by its latest horizontal-sector takeover expansion. The company announced that it would spend 165 million yuan to acquire one of the three brands of mainland badminton products to achieve the strategy of expanding to different sports areas. Only market comments that the above acquisition amount is less than 1% of the market value of Li Ning, so even taking into account the possible coordination effect, the impact on Li Ning's earnings will not be very big.

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