China PC maker Lenovo withdraws application for $1.6 billion Shanghai listing

Illustration photo of a Lenovo logo
FILE PHOTO: The Lenovo logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration

October 8, 2021

(Reuters) -China’s Lenovo Group Co, the world’s biggest maker of personal computers (PCs), has withdrawn its application for a 10 billion yuan ($1.55 billion) share listing in Shanghai, a Shanghai Stock Exchange filing showed on Friday.

The company only had its application for a share sale accepted by Shanghai’s STAR Market at the end of last month.

The Shanghai Stock Exchange said Lenovo and its sponsor, investment bank China International Capital Corp <3908.HK>, had asked to withdraw the application documents on Friday but did not give a reason for the move.

($1 = 6.4430 Chinese yuan renminbi)

(Reporting by Tom Daly; Editing by Andrew Heavens)