China Sportswear Billionaires Cut Anta Stake In Sale Nearing $1.5 Bln

Only a few years ago, 2021 and 2022 seemed like a particularly promising years for sportswear sales in China.  The planned Summer Olympics in Japan were expected to attract viewership in the mainland; next year’s Winter Olympics are scheduled for Beijing and interest in winter sports has been on the rise.  

Amid concerns that Japan’s games won’t be held this year and questions whether all countries will turn out for next year’s winter games, the controlling shareholders of China’s biggest sportswear company said in a filing today that would lower their stake in the business.

Anta International, whose owners include billionaire chairman Ding Shizhong and vice chairman Ding Shijia, said they would sell 88 million shares, or about a 3.3% stake in Hong Kong-listed Anta Sports Products, at…