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China PC maker Lenovo withdraws application for $1.6 billion Shanghai listing

China PC maker Lenovo withdraws application for $1.6 billion Shanghai listing
China PC maker Lenovo withdraws application for $1.6 billion Shanghai listing   -   Copyright  Thomson Reuters 2021
By Reuters

-China’s Lenovo Group Co, the world’s biggest maker of personal computers (PCs), has withdrawn its application for a 10 billion yuan ($1.55 billion) share listing in Shanghai, a Shanghai Stock Exchange filing showed on Friday.

The company only had its application for a share sale accepted by Shanghai’s STAR Market at the end of last month.

The Shanghai Stock Exchange said Lenovo and its sponsor, investment bank China International Capital Corp <3908.HK>, had asked to withdraw the application documents on Friday but did not give a reason for the move.

($1 = 6.4430 Chinese yuan renminbi)