Legend Holdings Reportedly Plans IPO

(RTTNews) - Legend Holdings Ltd., the largest shareholder of PC maker Lenovo Group Ltd. , plans to raise US$2 billion to US$3 billion with a Hong Kong initial public offering in the second half of this year, the Wall Street Journal reported Monday, citing people familiar with the matter.

Legend is working closely with banks to plan the IPO, though it has not officially appointed underwriters, the journal quoted one of the people as saying.

In 2013, Legend's revenue was 244.0 billion yuan (US$39.0 billion) and total asset was 207.0 billion yuan (US$33.1 billion), according to the Chinese investment firm's website.