Lenovo Surges to Nearly Six-Year High After Revealing Shanghai Listing Plan

[TaiShang]

(Yicai Global) Jan. 13 -- Shares of Lenovo Group rallied to an almost six-year record in Hong Kong after the world's largest personal computer maker said it will apply for a secondary listing on Shanghai's Star Market.

The company's Hong Kong-listed stock [HKG: 0992] jumped by 14.9 percent to HKD9.25 (USD1.20) this morning, the highest since May 2015. Its American depositary receipts [ADR: LNVGY] climbed by 10.9 percent to USD21.27 yesterday.

Lenovo has filed with the Shanghai Stock Exchange to issue new common shares, representing no more than 10 percent of its total after the issuance, on the Nasdaq-style board, the Beijing-based firm said in a statement yesterday. The tech-heavy Star Market had lured firms such as JD Digits and Ant Group to apply to get listed.

The proceeds from the share sale would be used to support research and development of new technologies, products, and solutions, as well as to invest in related sectors, and to replenish working capital, according to the statement.

"The offering will allow us to make greater investments in technologies and innovations, and better drive digital and intelligent transformation across industries," said Chairman Yuanqing Yang.

Over the past couple of years, Lenovo has established new business units for cloud network convergence, data intelligence, and the Internet of Things to leverage its advantages.

Lenovo's global PC shipments rose by 12 percent to 72.7 million in 2020 from a year ago, representing a 24 percent market share, according to IDC. After the Chinese company, Hewlett-Packard, Dell Technologies, Apple, and Acer were leading the market.

Lenovo Surges to Nearly Six-Year High After Revealing Shanghai Listing Plans

www.yicaiglobal.com

 

[8888888888888]

With Trump thrteating Chinese companies, might be a good idea to return back to China.

 

[TaiShang]

Chinese Video Site Bilibili Files for Secondary Listing in Hong Kong

LIAO SHUMIN
DATE: 4 HOURS AGO
/ SOURCE: YICAI

Chinese Video Site Bilibili Files for Secondary Listing in Hong Kong

(Yicai Global) Jan. 13 -- Chinese video-sharing platform Bilibili has submitted an confidential application to list shares in Hong Kong, Tencent News reported today.

The Nasdaq-listed company hopes to float on the Hong Kong Stock Exchange in March, according to the report. Companies seeking a secondary listing in Hong Kong can keep the application and its details under wraps until they pass the listing hearing, the report added, citing the exchange’s procedures.

Generally speaking, a hearing can be scheduled about two months after a company files. Bilibili rival Kuaishou Technology has been waiting nearly 70 days.
Other media reports said the Shanghai-based company could raise between USD2 billion and USD3 billion.

Set up in 2009, Bilibili is still unprofitable. The firm’s net loss widened to CNY990 million (USD153 million) in the third quarter of last year, from CNY476 million in the second quarter, due to rising marketing expenses. Its revenue, which mainly comes from gaming, jumped 74 percent from a year earlier to CNY3.23 billion (USD500 million).

Shares of Bilibili [NASDAQ: BILI] closed 2.6 percent higher at USD115.44 each yesterday, giving it a market value of more than USD40 billion. The company’s stock price is up 35 percent so far this year, after soaring five-fold last year.

Editor: Peter Thomas

***

​

With Trump thrteating Chinese companies, might be a good idea to return back to China.

I remember they were sanctioning Hong Kong.