Chinese PC manufacturer Lenovo ‘to list shares in the US’
Chinese PC manufacturer Lenovo is planning an IPO in the US, according to the Shanghai Youth Daily. The company bought IBM’s PC division in December of last year for $1.75 billion. The sale is expected to be competed by the middle of this year.
According to the report, while Lenovo is planning to list on the US stock market, nothing is going to happen for eighteen months. Then, Lenovo and IBM’s PC Division will be publishing combined accounts. Currently, Lenovo is only listed on the Hong Kong exchange.
As part of the sale, IBM took an 18.9 per cent stake in Lenovo.