Hong Kong-listed Lenovo confirms IBM 300 mln shares placement at 3.20 hkd |
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Published
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Wed, 07 Feb 2007 03:53
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HONG KONG (XFN-ASIA) - Lenovo Group said shareholder IBM Corp has placed 300 mln shares with investors at 3.20 hkd per share through Citigroup Global Markets Asia Ltd.The placement shares represent approximately 3.52 pct of the existing issued ordinary share capital of Lenovo, the company said.A term sheet circulated earlier said IBM Corp is seeking to raise up to 990 mln hkd by selling 300 mln shares in Lenovo Group at 3.20-3.30 hkd per share.Confirming the term sheet details, the company said that upon completion of the placement, IBM's shareholding in Lenovo will be reduced to 631.87 mln shares and 375.28 mln non-voting shares, altogether representing an 11.31 pct stake in the company.As of 10.25 am, Lenovo was up 0.03 hkd or 0.94 pct at 3.23.roby.lau@xfn.comrl/net
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Hong Kong-listed Lenovo trading suspended pending share placement announcement 