Legend Holdings Corp., the Chinese conglomerate whose holdings include the world’s largest computer maker, is poised to raise about $2 billion from its Hong Kong initial public offering on strong demand, people with knowledge of the matter said.
Legend is considering selling shares at HK$43 each, the top end of a marketed range, the people said Thursday. Institutional investors placed orders for at least eight times the amount of stock available to them at the top price, according to the people, who asked not to be identified as the information is private.
The offering adds to the $12.8 billion raised through first-time share sales in Hong Kong this year, data compiled by Bloomberg show. Legend, founded 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.
The Beijing-based conglomerate has a 30.6 percent stake in Lenovo Group Ltd., the maker of ThinkPad notebooks. It offered 352.9 million shares at HK$39.8 to HK$43 apiece in the IPO, according to its prospectus.
Legend is due to set a final price on June 21, the document shows. A Hong Kong-based external spokesman for the company declined to comment.