Anta International Group Holdings Ltd has agreed to sell 88 million existing shares in a placement at HK$131.48 each, representing a 7.5% discount to Tuesday's close, which will reduce its direct shareholding to 47.56%, from 50.81%.
The controlling shareholder also through two subsidiaries holds an indirect 10.23% stake in the Hong Kong-listed company.
ANTA Sports said it did not expect the placement to have any significant impact on its daily operations or any change to its key management personnel.
($1 = 7.7616 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Shailesh Kuber)