Legend Holdings gets Hong Kong go-ahead for €2bn IPO

Legend Holdings, parent of computer maker Lenovo, has won approval from Hong Kong's stock exchange for an initial public offering worth about $2 billion, people with knowledge of the plans said.

This would be the largest IPO in the city since property developer Dalian Wanda Commercial Properties raised $4.04 billion in December and comes amid a boom in capital markets activity.

Companies have raised $41 billion from share sales in Hong Kong so far this year, double the amount from the same period in 2014, with the bulk coming from Shanghai-listed brokerages tapping investors to fund their lending.

Legend got the go-ahead from the listing committee of the exchange and will start taking orders for the deal starting the week after next. – Reuters