China.com Finance, October 9th, after a 7-day National Day holiday and 1 trading day,Lenovo GroupSet the shortest IPO trip on the Sci-tech Innovation Board in history. Following Geely,Lenovo GroupAnnounce termination and return to A. According to the website of the Shanghai Stock Exchange,Lenovo GroupThe application for listing on the Science and Technology Innovation Board was accepted on September 30, that is before the National Day holiday, but on Friday (8th) the first day of the A-share market resumption, that is, only 1 working day, Lenovo Group submitted the withdrawal of the public offering Depositary receipts and application documents for listing on the Science and Technology Innovation Board. It is worth noting that Lenovo Group’s share price fell 4.8% throughout the day to close at 8.1 yuan.
If Lenovo Group goes public, it would be the first red chip to return to the A-share listing by way of CDR. After Lenovo Group’s application for listing on the Science and Technology Innovation Board was accepted, it has formally submitted the listing prospectus (application draft) of the Shanghai Science and Technology Innovation Board.
According to the prospectus, Lenovo Group plans to issue China Depository Receipts (CDR). The issuance plans to issue no more than 1.338 billion common stocks to depositors as the basic stocks to be converted into CDR, and the conversion ratio is 1:1. . CICC is the sponsor and lead underwriter,Goldman SachsGao Hua,CITIC SecuritiesAs a joint lead underwriter.
The Shanghai Stock Exchange said that a series of smart products produced by Lenovo belong to the Internet of Things and smart hardware fields in the new generation of information technology industry, while the products and solutions of the data center business belong to the cloud computing field in the new generation information technology industry. Sci-tech innovation board industry positioning.
Lenovo Group stated that the funds raised on the Science and Technology Innovation Board will be used for new product and solution research and development projects, including cloud-network integration, industry digitization, artificial intelligence and other related projects, as well as industrial strategic investment projects and supplementary liquidity. .
(Source: CDC Finance)
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