Anta’s family shareholders transfer shares to a foundation

The Ding family, which controls the Anta Sports group, had transferred 84.5 million shares in the company, representing about 3.16 percent of the equity, to a new charity, the Hemin Foundation. Based on the group’s recent stock price, the endowment is worth around $1.2 billion. The foundation intends to “collaborate with the company in various aspects including community development and other charitable activities,” said Anta. After the donation, the Ding family’s stake in Anta will be reduced to 54.65 percent.