Japan's NEC seeks to sell entire Lenovo stake in $235 mln deal -IFR
HONG KONG, Sept 4
HONG KONG, Sept 4 (Reuters) - Japanese IT solutions and technology firm NEC Corp plans to sell its entire stake in Lenovo Group, the world's No.2 PC maker by sales, in a block deal worth about $235 million, IFR reported on Tuesday, citing a term sheet of the transaction.
The company is offering 281 million shares at a price range of HK$6.3 to HK$6.5, putting the total deal at up to HK$1.83 billion ($235 million), added IFR, a Thomson Reuters publication. The offering price is equivalent to a discount of 1.8 percent to 4.8 percent to Lenovo's Tuesday closing price of HK$6.62, it added.
Credit Suisse was hired as sole bookrunner on the deal. ($1 = 7.7571 Hong Kong dollars) (Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Muralikumar Anantharaman)
- Sunken Korea ferry relatives give DNA swabs to help identify dead |
- Special Report: How the U.S. made its Putin problem worse
- Vice-principal of South Korea school in ferry disaster commits suicide |
- Search resumes after Everest's worst climbing tragedy
- Current underwater search for Malaysia plane could end within a week