Legend Holdings Corporation Class H (HK:3396) has released an update.
Legend Holdings Corporation has announced that its subsidiary Lenovo and Alat, a subsidiary of the Public Investment Fund, have entered into a strategic collaboration to explore new business opportunities in the Middle East and Africa. Additionally, Lenovo will issue $2 billion in convertible bonds to Alat, with proceeds intended to repay debt and for general corporate purposes. The transaction is subject to shareholder and regulatory approvals and will not affect Legend Holdings’ controlling interest in Lenovo until the bonds mature in 2027.
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