BIZCHINA / Yang Yuanqing
Lenovo may go public in US
(China Daily)
Updated: 2006-03-09 13:51
Legend Holdings Ltd, parent of Lenovo Group Ltd, may seek to list the
computer maker in the US after ruling out selling shares on China's
domestic stock market, Chairman Liu Chuanzhi said.
"In order to attract more interest from international investors, we are
considering a listing in the US," Liu said yesterday. Lenovo can't sell
shares to mainland investors while maintaining its Hong Kong listing, Liu
said.
Lenovo last year bought International Business Machines Corp's personal
computer division for US$1.25 billion to become the world's third-biggest
PC maker.
The company moved its headquarters to Purchase, New York and in December
hired William Amelio, from rival Dell Inc as chief executive.
Lenovo shares fell 3.2 per cent to a seven-month low of HK$3.20 (41 US
cents) in Hong Kong yesterday. They have lost 15 per cent this year,
compared with a 4.7 per cent gain in the Hang Seng China-Affiliated
Corporations Index.
Beijing-based Legend also plans to raise funds by packaging its
commercial properties into a real estate investment trust, or REIT, that
will sell shares in Hong Kong, Liu said.
Legend unit Raycom Real Estate Development Co owns more than 2 billion
yuan (US$249 million) of office properties, according to Liu. Rental
income on the properties rose 50 per cent last year to 60 million yuan,
he said.
Most Popular Stories in 48 Hours
Surges in processed oil prices continue
China raises retail oil prices
Chains dominates catering
China processed oil prices up
Global copper price may calm down
Today's Top News
China boosts processed oil prices, subsidies promised
Gas leak forces 5,000 to evacuate
China to issue $5bln worth of T-bonds
IKEA founder proud to be frugal at 80
Top Biz News
Surges in processed oil prices continue
Share-merger reform enters crucial period
China c.bank sees GDP growing 8.9% in 2006
China's tax burden lower than world average
China processed oil prices up
20071121-Hedy Extracted From http://www.learnchinese.bj.cn
No comments:
Post a Comment