Lenovo’s Largest Shareholder Plans IPO In Hong Kong

June 2, 2015

NewsStandOnline.Net (2-June-2015): Chinese investment firm Legend Holdings Ltd., the largest shareholder of personal-computer maker Lenovo Group Ltd., plans to raise US$2 billion to US$3 billion with a Hong Kong initial public offering in the second half of this year.

Legend is working closely with banks to plan the IPO, though it hasn’t officially appointed underwriters, one of the people said.

Lenovo's Largest Shareholder Plans IPO In Hong Kong

Legend, which holds a 30.6% stake in Hong Kong-listed Lenovo, invests in a wide range of industries from technology to real estate to agriculture. In 2013, its revenue was 244.0 billion yuan (US$39.0 billion) and total assets were 207.0 billion yuan (US$33.1 billion), according to its website.

Legend representatives couldn’t immediately be reached for comment.