ibm-sells-another-batch-of-lenovo-shares

IBM sells another batch of Lenovo shares

The latest $80.6 million placement leaves IBM with 7.5% of the Chinese computer maker.
International Business Machines IBM has trimmed its stake in Lenovo through another share placement, leaving it with 7.5% in the company as the three-year anniversary of LenovoÆs acquisition of its personal computer division approaches.

The HK$628.6 million $80.6 million transaction was completed at a tight 3% discount to yesterdayÆs close of HK$5.58, which is a bit of an achievement in the current markets û especially since the share price had gained 3.5% earlier in the day and 6.7% over the past two sessions. The final price equalled a 2.1% premium to the 10-day average closing price.

The Citi-led deal, which represented about 4.5 days worth of trading based on the volume over the...
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