Arab Today, arab today lenovo parent raises nearly 2bn in hong kong ipo
Last Updated : GMT 15:02:57
Arab Today, arab today
Arab Today, arab today

Lenovo parent raises nearly $2bn in Hong Kong IPO

Arab Today, arab today

Arab Today, arab today Lenovo parent raises nearly $2bn in Hong Kong IPO

Lenovo parent raises nearly $2bn
Hong Kong - XINHUA

Legend Holdings, the parent company of the world's largest PC maker Lenovo, raised nearly 2 billion U.S. dollars in an initial public offering (IPO) on Monday in Hong Kong.

Witnessed by dozens of cornerstone investors and the company's management, Legend Holdings' chairman Liu Chuanzhi hit the gong during the debut of the company at Hong Kong Exchanges, opening the share price at 43.15 Hong Kong dollars (5.57 U.S. dollars), 0. 4 percent higher than its offering price.

In its first trading day, Legend Holdings (stock code 3396) went up and down between 43.55 Hong Kong dollars and 42.85 Hong Kong dollars with a turnover of 2.7 billion Hong Kong dollars and a market value of 16.7 billion Hong Kong dollars (about 2.1 billion U.S. dollars).

According to Legend Holdings' plan, it will spend about 55 percent to 60 percent of the raised fund in strategic investment to support new purchase and current businesses which covers six major sectors: information technology (IT), financial service, modern service, real estate, agriculture, chemical and energy.

"Today I am very excited but calm at the same time," said Liu at the IPO ceremony. "I'm feeling excited because the IPO means a new milestone for Legend, and calm because we pay more attention to the company's long-term performance rather than its price's ups and downs today."

Liu pledged that Legend Holdings will continue to prioritize shareholders' interests and build a centennial company of global influence which has leading sub-entities in multiple industries.

Before Monday's debut, Legend Holdings secured 950-million-U.S.- dollar-worth commitments from 24 cornerstone investors, including Hong Kong tycoons and Chinese mainland investors. Liu specially appreciated the cornerstone investors' long-term trust to his company.

Zhu Linan, president of Legend Holdings, said the company will focus its investment in consumer, service and finance sectors. Liu believed that medical service and education will have huge potential in China's future economic growth thanks to China's mid- class population and government's policy.

Legend Holdings was established in 1984 by Liu Chuanzhi and 10 other researchers with 200,000 yuan from the government think tank Chinese Academy of Sciences. After 31-year development, Legend Holdings has become a comprehensive investment holding company with a revenue of more than 46.7 billion U.S. dollars in 2014. Enditem

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lenovo parent raises nearly 2bn in hong kong ipo Arab Today, arab today lenovo parent raises nearly 2bn in hong kong ipo

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday