Lenovo's worst drop in 3 years

[Hanno Labuschagne]

Lenovo's worst drop in 3 years

Lenovo Group Ltd. plunged by the most in three years in Hong Kong trading after the world’s No. 1 personal computer maker withdrew a plan to list in mainland China just days after its application was accepted by regulators.

Shares of the Beijing-based tech giant dropped as much as 18% in Hong Kong trading on Monday, the most since October 2018.

Lenovo, which first announced plans to list Chinese depositary receipts on Shanghai’s STAR market in January, said the validity of the information in its prospectus may have lapsed during the vetting process, according to a filing to the Hong Kong stock exchange.

[Bloomberg]

 

[Moosedrool]

Overpriced brand. Having the hardware standards and label of IBM behind them got too their heads 10 years ago while forgetting to compete with others who surpassed them.

 

[JohnStarr]

Absolute rubbish laptops. Had 1 for work and the keyboard packed up in 3 years. Slow as anything.