HONG KONG, Sept 4 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
($1 = 7.7571 Hong Kong dollars)
(Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by