IBM ceased to be a shareholder in Lenovo for the second time in its history on Wednesday after executing a HK$1.17 billion $150 million clean-up trade.
The US computer manufacturer took advantage of improving equity sentiment to sell a 1.6% stake in the Chinese computer giant through an accelerated bookbuild led by Goldman Sachs.
However, the company still netted a loss from the trade since it first purchased the shares for $195.18 million as part of an MA deal that closed in September 2014 according to SP Global Market Intelligence.
Bankers will nevertheless be hoping the deal injects some much needed...
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