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Liu Chuanzhi, chairman of Legend Holdings, confirmed that the Chinese conglomerate had purchased equities of Shanghai-based BOC International (China) Ltd, China Business News reported Tuesday.
Previously, media reports had speculated that Legend, the parent of Chinese computer maker Lenovo Group, might have paid 900 million yuan ($131.84 million) for a 12 percent stake in BOC International, but Legend refused to comment.
Earlier this year, Legend closed a deal with central China's Wuhan-based Hankou Bank to become its largest shareholder. City commercial banks have been more prominent in public offerings since last year, but Liu said Legend has no plan for listing Hankou Bank so far.