China's Legend Holdings yesterday unveiled plans to transform itself from a state-controlled enterprise into a listed company in a move that could help the group's affiliate Lenovo gain easier access to orders and overseas acquisition targets. Legend – which is the single largest shareholder in personal computer maker Lenovo, with a 42.3 per cent stake, said it planned to take all its affiliates public and list the holding company.
Liu Chuanzhi, co-founder and chairman, said Lenovo had faced “difficulties in the past with government-related orders as it was seen as a state-controlled company”.
However, he said the restructuring at Legend meant it was effectively a privately-owned institution.
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