TPG cashes in $70 million worth of shares in Lenovo

TPG sells part of its holding at a tight discount following a jump of 50% in Lenovo's shares during the past six months.

TPG has raised HK$539.2 million $69.5 million by selling a portion of its existing shareholding in Lenovo. It's the second time the investment firm has reduced its holding in China's largest computer maker during the past six months, taking advantage of the strong momentum in the stock.

Texas-based TPG sold shares in Lenovo at HK$5.35 apiece, the low end of an indicated range. It sold 100.8 million shares, accounting for 1% of the PC maker's...

To continue reading, please login or register for free

Click for more on: tpg | lenovo | placement | pc maker | chinese global company

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...