FX.co ★ Legend Holdings plans $3 billion IPO

Chinese conglomerate Legend Holdings Ltd. is planning an initial public offering in Hong Kong in July 2015.
Lenovo Group’s largest shareholder plans to raise up to $3 billion. If so, it is going to be one of Asia’s biggest listings this year.
Legend Holdings was founded in 1984 by 11 researchers with funding of $30,000 from the Chinese Academy of Science.
Currently, Legend holds a 30.6% stake in Lenovo, controls investment firm Hony Capital and has interests in real estate in China.
The major shareholders of the conglomerate are Liu Chuanzhi and the Chinese Academy of Science.