Chinese gymnast's wealth soars with opening ceremony

By Dominic Whiting and Joseph Chaney HONG KONG (Reuters) - 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 of thundering drums and exploding firecrackers, which ended with a heart-stopping climax when Li simulated a race in mid air to set the giant Olympic cauldron ablaze. Although the impact on sales of Li Ning's clothing line may be hard to gauge, shares in the firm shot up 5 percent on Monday morning to HK$18.50. Li controlled 266.8 million shares of the... [read full story]                    

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