12 September, 2024 – Lenovo Group Limited (HKSE: 992) (ADR: LNVGY) is pleased to announce that its shareholders passed the proposed resolutions in relation to Strategic Business Transactions announced in May 2024 at today’s general meeting in Hong Kong, approving the issuance of a US$2 billion zero coupon convertible bond to Alat, a KSA Public Investment Fund (PIF) company focused on transformative technology investment and sustainable manufacturing, and the issuance of 1.15 billion warrants.
The Strategic Business Transactions will raise funds to help Lenovo accelerate its growth and transformation. The introduction of Alat as a long-term strategic partner is expected to further diversify Lenovo’s global supply chain footprint, accelerate its expansion in the Middle East and Africa (MEA) region, and drive greater financial flexibility.
Read here for the poll results which have been published on the Hong Kong Stock Exchange website. The completion of the Strategic Business Transactions is subject to closing conditions precedents as well as other customary regulatory approvals.
Lenovo is a US$57 billion revenue global technology powerhouse, ranked #248 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world’s largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo’s continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit https://www.lenovo.com, and read about the latest news via our StoryHub.
