Legend Holdings 3396

Re: Legend IPO

Postby winston » Tue Jun 16, 2015 4:57 am

Legend on his own

Liu Chuanzhi, 71, said he will not step down until his MANAGEMENT team acquires more maturity.

"I want to enjoy the SUCCESS of listing Legend Holdings now. My focus is on how my team is working.

When they get more mature, I will step down naturally," Liu said.

He is regarded as a legend. He founded Lenovo in 1984 at a time when China was still executing a planned economy. After 10 years, he listed the computer FIRM in the SAR.

After Lenovo acquired IBM's personal computer BUSINESS in 2004, he quit as Lenovo chairman.

But during the global FINANCIAL crisis in 2008, Lenovo was mired in the red. Liu then returned as chairman in 2009 as a "firefighter" who successfully put Lenovo back on the path of growth. He quit again in 2011 to focus on Legend.


Source: The Standard HK
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Re: Legend IPO 3396

Postby winston » Tue Jun 16, 2015 8:26 pm

[b]LEGEND HOLDING(03396.HK) IPO Kicks Off Today; Valuation Expected Similar to Peers[/b]

LENOVO GROUP (00992.HK) -0.300 (-2.688%) Short selling $134.39M; Ratio 25.136% 's parent company and one of the biggest investment group in Mainland China, LEGENDHOLDING (03396.HK), will start the initial public offering in Hong Kong stating today to this Friday (19 June).

The group's chairman and founder Liu Chuanzhi said the group has now developed into an "investment + industry"-driven company.

According to the median of the IPO price of $41.4, the net proceeds are approximately $14.083 billion. With a board lot size of 100 shares, the entry fee is approximately $4,343.33.

The stock will be priced on 21 June and will be listed on 29 June. CICC and UBS are the IPO sponsors.

According to the prospectus, the company has two major business, i.e. strategic investment and financial investment.

The company mainly invests in six sectors including IT (incl. Lenovo Group), financial service (such as traditional financial institutions like Hankou Bank), modern service (like CAR INC (00699.HK) -0.180 (-1.055%) Short selling $21.28M; Ratio 15.727% ), agriculture and food, property (RAYCOM Real Estate) and chemical and energy materials.

LEGEND HOLDING's profit for last year totaled RMB7.822 billion, with IT business accounting for 69%.

According to Goldman Sachs prediction earlier, the company's valuation may reach HK$71.3 billion to HK$113.7 billion. If the offer shares are priced at the median level, its valuation shows a slight discount to its peers, but if priced at the upper end of the price range, its valuation will be higher than its peers.

Source: AAStocks Financial News
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Re: Legend IPO

Postby winston » Wed Jun 17, 2015 7:51 am

Listing response for trio far from the stuff of Legend

Three companies opened their retail books yesterday but investors did not show much enthusiasm, even for the long-awaited initial public offering of Legend Holdings.

Legend's offering, which could be the third largest H-share sale this year, received HK$1.10 billion worth of margin orders on the first day of retail bookbuilding from 10 brokerages, 0.45 time higher than its HK$759 million target for the retail tranche.

Source: The Standard HK
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Re: Legend IPO

Postby winston » Fri Jun 19, 2015 7:22 pm

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LEGEND HOLDING International Placing Over-subscribed Substantially

LEGEND HOLDING (03396.HK)’s initial public offering will close for subscription at noon.

According to foreign media, institutional investors' demand for LEGENDHOLDING shares was robust, and its international placing was over-subscribed by more than 10 times.

Previously, rumors came that the company intends to price the offer shares at $43 (being the upper end of the price range) and this may lead the company's total proceeds from IPO to US$2 billion.

Source: AAStocks Financial News
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Re: Legend IPO

Postby winston » Sun Jun 21, 2015 5:10 pm

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Legend's US$2bn Hong Kong IPO has investors salivating by Lai Chao-nan

The parent company of leading Chinese PC manufacturer Lenovo — Legend Holdings — is set to raise up to US$2 billion in an IPO on the Hong Kong Stock Exchange on June 29.

The offering has attracted institutional investor interest and drawn investment exceeding the share value eightfold, reports our Chinese-language sister paper Commercial Times.

The Beijing-based investment company expects to issue a total of 353 million shares at a price between HK$39.8-$43 (US$5.13-$5.54).

The IPO issue price will be announced officially on June 21.

Under the capital structure of Legend Holdings, the founder and chair Liu Chuanzhi holds around 2.83% of shares while 8.17% belongs to core management and 20.4% to entrepreneur employees.

Around 55%-66% of its IPO funding will be used for strategic investment, acquisitions and the development of current businesses.

The company said it is likely to purchase in sectors with high growth potential, such as the consumer and services industries.

Legend Holdings is best known for its 30.6% share of Lenovo Group, which accounts for nearly 70% of its profits.

The company also has stakes in private equity company Hont Capital, UK pizza chain Pizza Express, Hong Kong-listed car rental firm CAR, fruit producer Joyvio and dental chain Bybo, among other business ventures.

Source: Want China Times
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Re: Legend IPO

Postby winston » Mon Jun 22, 2015 6:45 am

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Legend Holdings Corp, the parent of Lenovo Group (0992), is considering selling its shares at HK$43 apiece the top end of its indicative range, as reported by Bloomberg.

Market sources said Legend's retail tranche is 44 times oversubscribed.

Its trading debut is slated for June 29.

Source: The Standard HK
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Re: Legend IPO

Postby winston » Fri Jun 26, 2015 5:26 am

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Legend attracts big names to the float

Five top tycoons have subscribed to the shares of Legend Holdings, the parent global PC maker Lenovo (0992), that will start trading on Monday.
The big names are Li Ka-shing, Lee Shaw-kee and Lui Che-woo, Alibaba Group chairman Jack Ma Yun and Tencent Holdings (0700) chairman Pony Ma Huateng.

Each have taken up HK$390 million to HK$780 million worth of Legend shares, a market source said.

Earlier, Cheng Yu-tung and former chairman of Sun Hung Kai Properties (0016) Walter Kwok Ping-sheung were listed as two of the 24 cornerstone investors. Cheng subscribed to HK$468 million worth of shares while Kwok bought HK$390 million.

Legend Holdings is said to be oversubscribed 44 times in the retail tranche, and prefers pricing shares at HK$42.98 apiece, close to the high end of the indicative range. It therefore would raise HK$15.17 billion.


Source: the Standard HK
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Re: Legend IPO

Postby winston » Sat Jun 27, 2015 2:33 pm

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Lenovo parent Legend Holdings generates US$2 billion in Hong Kong IPO

Legend Holdings, the parent of computer giant Lenovo Group, priced its initial public offering in Hong Kong at HK$42.98 per H share, generating about US$2 billion from the sale of 352.944 million shares.

In a regulatory filing on Friday, Legend said the net proceeds from the IPO was estimated to reach HK$14.627 billion, after deducting underwriting commissions, incentive fees and other expenses.

The local market offering of 26,470,800 H shares, which was about 45.17 times oversubscribed, represents 7.5 per cent of the total stock up for sale.

The international offering, also significantly oversubscribed, was decreased to 326,473,200 shares, making up 92.5 per cent of the total IPO.

The first day of trading for the company's shares in Hong Kong is scheduled for Monday.

Founded by entrepreneur and former Lenovo chairman Liu Chuanzhi in 1984, Legend has grown into one of mainland China's biggest investment groups.
Beijing-based Legend, a highly diversified investment company, plans to spend its IPO’s net proceeds on new acquisitions and further development of existing businesses.

It has a 30.56 per cent controlling stake in principal subsidiary Lenovo, the shares of which started trading in Hong Kong's main board on February 14, 1994.

Legend, which started doing business in mainland China as a personal computer distributor in 1985, signed up 24 so-called cornerstone investors to subscribe to about half of the company’s global share offering.

Ping An of China Asset Management (Hong Kong), the overseas investment arm of Shenzhen-based Ping An Insurance Group, made the biggest bet among those investors, subscribing to 10,821,200 shares that accounted for 3.07 per cent of the total on offer.

China Life Franklin Asset Management, China Re Asset Management (Hong Kong), China National Building Material Company, CNIGC Investment Management and Easy Smart each subscribed to 2.55 per cent of the offered shares.

Founded by entrepreneur and former Lenovo chairman Liu Chuanzhi in 1984, Legend has grown into one of mainland China's biggest investment groups. It posted revenue of 289.5 billion yuan (US$47.2 billion) last year and had total assets worth 289 billion yuan as of December 31.

Apart from Lenovo's interests in information technology and consumer electronics, Legend is also into financial services, logistics, food and agriculture, property, financial investments, chemicals and energy materials, car rentals and China's largest dental service chain, Bybo.

Source: SCMP
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Re: Legend IPO

Postby winston » Mon Jun 29, 2015 4:22 am

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Legend debut defies slump by Jennifer Li

Legend Holdings (3396) debuts today after shares rose 3.3 percent in the gray market on Friday, quickly deemed "Black Friday" as the Hang Seng Index lost 482 points and the Shanghai Composite Index slumped 7.4 percent.

The parent company of Lenovo Group (0992), the world's largest PC maker, saw shares rise to HK$44.40 on the Phillip Securities platform, generating a paper gain of HK$142 for a board lot of 100 shares.

It also ended 1.56 percent higher on Bright Smart for a HK$67 gain.

Market watchers suggest holding the shares for mid or long term, even though they may rise slightly on debut.

"It's better to hold the shares longer, because the net proceeds will be used for mergers and acquisitions," said Tang Kin-chor, CASH Securities associate director. "Meanwhile, spin-off listings of some of its mature business may take place in the future."

Monetary easing measures may not affect new listings much, but the limited supply could push up prices, Tang added.

Legend Holdings priced shares at HK$42.98 apiece, close to the higher end of an indicative range of HK$39.80 to HK$43, and raised HK$14.63 billion.

Its retail tranche was oversubscribed 44.17 times, accompanied by investments from tycoons including Lee Shau-kee, Cheng Yu-tung and Walter Kwok Ping-sheung.

Source: The Standard
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Re: Legend IPO

Postby winston » Tue Jun 30, 2015 3:50 am

vested

Legend chief waves off slight loss in slide by Jennifer Li

Investors in Legend Holdings (3396) suffered a mere HK$3 paper loss per board lot of 100 shares on its trading debut even as stock markets around the world, including Hong Kong, tumbled yesterday.

Legend Holdings, the parent of the world's largest PC maker Lenovo Group (0992), ended 0.07 percent, or three HK cents, lower at HK$42.95, as jitters over a possible Greece exit of the euro zone battered sentiment.

Lenovo Group, of which Legend holds 30.6 percent, slumped 5.67 percent, becoming the worst-performing blue chip of the day.

"Our stock may see ups and downs but we don't care much about that," said Legend chairman Liu Chuanzhi during the listing ceremony yesterday. "What we care about is to make our future revenue and profit worthy of the long-term investors."

Legend shares hit an intraday high of HK$43.55 and a bottom of HK$42.85, generating a total trading volume of HK$2.7 billion. Liu, who hit the gong for the second time after the listing of Lenovo in 1994, said he chose Hong Kong again because it was a well- regulated and transparent market and he expects Legend's long-term profit growth to push up the value of the shares.

Chief executive Zhu Linan said the consumption and services industry remains promising despite China's economic slowdown.

"We believe there are many investment opportunities following the relaxation of policies," he said.

On market rumors that tycoon Li Ka-shing, Tencent Holdings (0700) chairman Pony Ma Huateng and Alibaba Group chairman Jack Ma Yun also subscribed to shares, Liu said he has heard the rumor but is unable to confirm the fact.

Legend raised HK$14.6 billion through the initial public offering, the third highest in the SAR this year.

Source: The Standard HK
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