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Legend Holdings Corporation Class H ( (HK:3396) ) has issued an update.
Legend Holdings Corporation, through its wholly-owned subsidiary Honorific, has acquired 115,174,000 Lenovo shares, representing approximately 0.9285% of Lenovo’s issued share capital, for around HKD1.125 billion. This acquisition, conducted on the open market, increases Legend Holdings’ total stake in Lenovo to approximately 32.34%. The transaction is classified as a discloseable transaction under Hong Kong’s Listing Rules, requiring notification and announcement but not shareholder approval. This move strengthens Legend Holdings’ position in the technology sector through its increased investment in Lenovo, a company known for its smart devices and IT infrastructure solutions.
The most recent analyst rating on (HK:3396) stock is a Hold with a HK$10.00 price target. To see the full list of analyst forecasts on Legend Holdings Corporation Class H stock, see the HK:3396 Stock Forecast page.
More about Legend Holdings Corporation Class H
Legend Holdings Corporation is a joint stock limited company incorporated in the People’s Republic of China. The company operates in various sectors, including financial services, innovative consumption and services, agriculture and food, and information technology. Through its subsidiary Lenovo, Legend Holdings is involved in the research, development, manufacturing, and sales of smart devices, infrastructure, and software solutions.
Average Trading Volume: 2,341,209
Technical Sentiment Signal: Buy
Current Market Cap: HK$22.36B
See more insights into 3396 stock on TipRanks’ Stock Analysis page.