Largest Lenovo shareholder aims for $3bn IPO in Hong Kong

State-linked Chinese conglomerate Legend Holdings Corp — largest shareholder of Lenovo Group (0992.HKG) — is hoping to raise US$3 billion in its IPO on the Hong Kong stock exchange in July after it applies for listing approval in the coming weeks, The Wall Street Journal reported, citing unnamed sources. Should that target be reached it will be the largest IPO in Asian markets this year, and the conglomerate is working closely with China International Capital Corp and UBS AG (OUBSF.OTCMKTS) on its listing. A Hong Kong listing would further Legend’s international presence, adding to its acquisition of the Pizza Express chain in the UK.