HONG KONG: Former Chinese gymnast Li Ning was $30 million richer on Monday when shares in his company soared thanks to a starring role at the Olympics opening ceremony, when he was hoisted by cables to light a cauldron.
Investors snapped up shares in his Hong Kong-listed sportswear firm, Li Ning Co. Ltd, hoping that global recognition would follow Friday’s spectacle. Audiences around the world gave rave reviews to the extravaganza which ended with a heart-stopping climax when Li simulated a race in mid air to set the giant Olympic cauldron ablaze.
The shares in the firm shot up 5 percent on Monday morning to HK$18.50. Li controlled 266.8 million shares of the firm as of July 11, including through a company jointly owned by his brother, according to Thomson Reuters data.
The paper gain of $30 million for the former gymnast follows a 3.7 percent share price rally on Friday as rumours swirled that he would feature in the opening ceremony.
