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Viva Goods Boosts Stake in Li Ning to 19% in HK$264 Million Deal

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Viva Goods Company (HKG:0933) acquired an additional 19.2 million shares in sportswear brand Li Ning (HKG:2331) for about HK$263.7 million through open-market transactions, according to a Monday Hong Kong bourse filing.

The shares represented about 0.74% of Li Ning's issued share capital and were acquired at an average price of about HK$13.71 each, excluding stamp duty and related expenses.

Following the acquisitions, Viva Goods' interest in Li Ning will rise to about 19.04% from 18.30%, while Li Ning will remain an associate of the group.

Shares of Viva Goods were up nearly 3% in Tuesday morning trade, while Li Ning rose nearly 2%.

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