Lenovo Group's owner Legend Holdings to raise US$1.96b in IPO

[HONG KONG] China's Legend Holdings, owner of Lenovo Group Ltd, will raise up to US$1.96 billion in an initial public offering in Hong Kong this month, IFR magazine reported on Friday citing sources with knowledge of the deal.

Legend will sell around 353 million shares, or 15 per cent of its capital, in a price range of HK$39.8-43 each, IFR reported. China's CICC and UBS Group are joint sponsors of the deal, IFR, a Thomson Reuters publication, reported.

Lenovo is the world's largest maker of personal computers. Legend also owns Chinese property developer Raycom Real Estate and private equity fund Hony Capital.

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