Lenovo hopes to list stock on Shanghai exchange, CFO tells Reuters
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Local Tech Wire
RESEARCH TRIANGLE PARK, N.C. – Lenovo, the world’s No. 4 PC maker, plans to list its stock on the Shanghai exchange once rules are altered so that foreign-based companies can join.
So reported Reuters on Tuesday in an interview with Lenovo Chief Financial Officer Wong Mai Ming,
Lenovo is based in Morrisville, N.C. but most of its operations are located in China where the company was born more than two decades ago. Lenovo moved its headquarters to New York and then to Morrisville after acquiring IBM’s PC business in 2006.
Its shares currently trade on the Hong Kong exchange under the symbol 0992.HK.
"I obviously would wish to list (in China) today," Wong Wai told Reuters reporters Kelvin Soh and Doug Young at the Reuters China Investment Summit.
"Knowing Lenovo's market share in China, it makes a lot of sense and we would follow that issue very closely,” he added. “We need to look at what the rules are, and what are the possible impacts on our operations."
Wong also said he expected Lenovo to return to profitability in March 2010. Lenovo has reported a loss in each of the last three quarters.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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