Legend Said to Submit Application for $2 Billion Hong Kong IPO

Legend Holdings Corp., the largest shareholder of the world’s No. 1 personal computer maker, filed an initial public offering application with the Hong Kong stock exchange, a person with knowledge of the matter said.

The Beijing-based company plans to seek more than $2 billion from an IPO this year, according to the person. China International Capital Corp. and UBS Group AG are working on the share sale, the person said, asking not to be identified as the information is private.

Legend, started in 1984, has expanded into a company with $47 billion of assets and more than 60,000 employees at the end of 2014, according to its website. It has a 30.6 percent stake in Lenovo Group Ltd., the maker of ThinkPad notebooks, data compiled by Bloomberg show.

The group controls Hony Capital, a private-equity firm with $7 billion under management, and a property developer with about 7 million square meters (75 million square feet) of land bank, according to the website.

It also owns stakes in companies including Joyvio Group, China’s largest kiwi grower, as well as battery maker Phylion Battery Co., small-loan provider Zhengqi Anhui Financial Holding Co. and clinic operator Bybo Dental Group.

IFR reported the filing on its website earlier Wednesday in Hong Kong, citing unidentified people. A Hong Kong-based external spokeswoman for Legend declined to comment.

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