Lenovo prepares for Shanghai listing
Amid the news, Lenovo stocks jumped over 16%, the biggest intraday gain since April 2015
Stocks impacted: Lenovo (0992)
The Chinese PC maker Lenovo said it intends to list some stock in Shanghai. The company had filed a request to the Hong Kong stock exchange, asking them to issue Chinese depositary receipts (CDRs) on the Science and Technology Innovation Board or Star Market of the Shanghai Stock Exchange. The firm is looking to list in Shanghai as soon as the first half of this year. China’s top computer vendor said that the new ordinary shares can represent no more than 10% of all shares after the issuance. As a reminder, in the six months ended September 30, 2020, Lenovo made USD 27.9 billion in revenue from 180 markets worldwide, up 7% year-on-year. Amid the news, Lenovo stocks jumped over 16%, the biggest intraday gain since April 2015.
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