Legend to raise $1.8b in IPO

Conglomerate Legend Holdings Corp, which is the parent company of Hong Kong-listed Lenovo Group Ltd, the world's largest computer maker by sales, aims to raise more than $1.8 billion in an initial public offering.

Legend is offering 352.9 million shares at HK$39.80 ($5.13) to HK$43 apiece, the company said in a statement in Hong Kong on Monday. The net proceeds are estimated at HK$14.08 billion, assuming the final offer price is HK$41.40, the mid-point of the initiative price range.

A 15 percent over-allotment option, also known as a green shoe, may be exercised if the offer is heavily oversubscribed, the company said.