Lenovo hopes to return to A-share market

Sep. 3, 2009 (China Knowledge) - Lenovo Group Ltd<0992><LNVGY>, the world's fourth-largest PC manufacturer, hopes to list on the Shanghai Stock Exchange, according to the firm's CFO Wong Wai Ming.

Wong noted that the listing will make more sense to the firm, as it owns almost one third market share in the mainland.

Lenovo is closely watching the A-share issuance in the mainland, while it still takes time to work on the details about the related stock market rules and evaluate the influence on Lenovo's business operations, said Wong.

Although China has rules that forbids foreign-quartered firms to go public on the domestic stock markets, the Chinese government is considering changing the rule that will enable North Carolina-headquartered Lenovo to list on the SSE. 

Reportedly, Lenovo's board is considering two plans to conduct its A-share offering. One is to spin off its business of Greater China region and go for listing on the SSE. The other plan is to make a dual-listing on both the Hong Kong Stock Exchange and the SSE.