The Chinese conglomerate Legend Holdings Ltd. plans to attract $1.8 – 1.96 billion for initial public offering in Hong Kong. The largest shareholder in the world’s leading PC maker Lenovo Group Ltd. decided to sell 353 million shares at 39.8 – 43 Hong Kong dollars or 5.13 – 5.55 US dollars.
Currently, 20 investors confirmed their orders for more than $700 million.
In case IPO completely corresponds with the company’s plans, it could become the third largest one among those carried out in Hong Kong in 2015. This spring, brokerage companies Huatai Securities and GF Securities Co managed to attract $4.5 billion and $4.1 billion respectively.
Legend Holdings was founded by eleven Chinese scientists in 1984. Its initial capital of $30,000 was received from the Chinese Academy of Sciences (CAS). The company’s founder Liu Chuanzhi and the CAS investment department are main shareholders in the company. Legend holds 30.6% of shares in Lenovo and owns real estates all over the world and investment company Hony Capital.
