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Li Ning, backed by private equity powerhouse TPG Capital [TPG.UL] and Singapore wealth fund GIC [GIC.UL], last month reported a first-half net loss of nearly $100 million, more than three times that of the corresponding period a year earlier. It said at the time its recovery could take up to two more years as it invests hundreds of millions of dollars in promotion and advertising.
Read More »GIC BACKED PRC COMPANY LI NING LOSES 80% OF MARKET VALUE
