Reuters: Technology News: Lenovo Group's parent plans China IPO as early as 2014: report

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Lenovo Group's parent plans China IPO as early as 2014: report Dec 10th 2012, 02:50 Tweet Share this Email Print Analysis & Opinion FTC sides with Apple on essential patents, undercuts Motorola Seismic fallout from ruling on drug marketing and free speech? Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » Customers talk to a salesperson about a new laptop at a Lenovo shop in Shanghai February 17, 2011. Credit: Reuters/Aly Song SHANGHAI | Sun Dec 9, 2012 9:50pm EST SHANGHAI (Reuters) - Legend Holdings, the parent company of personal computer maker Lenovo Group, plans to list in China's A-share market sometime between 2014 and 2016, China Business News quoted the firm's chairman as saying. Legend Holdings, which also owns private equity fund Hony Capital, venture capital firm Legend Capital and real estate firm Raycom, will invest around 20 billion yuan ($3.2 billion) by 2014 to develop its businesses, Chairman Liu Chuanzhi told the paper. Legend Holdings is 36 percent owned by the Chinese Academy of Sciences, an institution under the State Council, while private investment firm China Oceanwide Holdings Group owns 20 percent. Lenovo, which is on track to become the world's largest PC maker reported last month a 12.6 percent rise in quarterly net profit, its slowest profit growth in more than two years, as its revenue mainstay, PCs, cede ground to tablets. ($1 = 6.2301 Chinese yuan) (Reporting by Melanie Lee; Editing by Edwina Gibbs) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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