Legend to launch $3b IPO in HK

The largest shareholder in computer giant Lenovo plans to capitalise on favourable sentiment towards China’s financial sector and Beijing's further loosening of capital flows.

Legend Holdings, the largest shareholder of personal-computer maker Lenovo Group, is joining the queue of Chinese financial companies with plans to tap Hong Kong capital markets by filing a listing application for a $3 billion IPO with the Hong Kong Stock Exchange.

Beijing-based Legend, an investment group focused on IT, financial services and agriculture, is the latest mainland firm to apply for a Hong Kong IPO and joins several Chinese banks, brokerages and insurers that plan to raise an aggregate $18 billion through listings in the city.

Among the other companies with jumbo-sized IPO ambitions are HTSC, which plans to raise $3 billion in a...

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