Chinese Olympic star-backed Spac eyes $250m IPO

Former Olympic gymnast and billionaire entrepreneur Li Ning, founder of sportswear brand Li-Ning, has set up a blank cheque firm targeting the Chinese consumer sector. The special purpose acquisition company (Spac) is called Trinity Acquisition Corp. Li formed the Spac with Hong Kong-based private equity firm LionRock Capital, where he is non-executive chairman, and former Goldman Sachs banker David Tse Young Chou. Trinity is planning to list on the New York Stock Exchange HOME ASIA EQUITY IPOS