IBM sells remaining shares in Lenovo

The $263 million deal is the sixth sell-down by IBM since Lenovo acquired its PC business in 2005.

Six years after Lenovo Group acquired IBM’s PC business, the US information technology giant has offloaded the last of the Lenovo shares that it received as part-payment. The sale took place after the Hong Kong market closed on Friday and enabled IBM to raise HK$2.05 billion $263 million.

This was the sixth sale of Lenovo shares by IBM through the capital markets and the first since July 2008 when it sold $77 million worth of shares that brought its stake below the 5% disclosure threshold. This meant it no longer had to tell the market when it sold shares and many investors probably assumed that it had divested its remaining stake...

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