IBM to sell up to $150M of Lenovo shares

|By:, SA News Editor

IBM plans to sell up to $150M worth of shares in China's Lenovo (OTCPK:LNVGY), according to Reuters, which cited a term sheet of the deal sent to investors.

IBM will offer 182M shares in an indicative range of HK$6.26-HK$6.42 each, equivalent to a discount of up to 6.4% to Lenovo's closing price on Wednesday.

Goldman Sachs was hired as sole bookrunner for the deal.

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