In a bid to remove a conflict of interest, Legends largest shareholder, the Chinese Academy of Sciences, is splitting its own-brand computer manufacturing and distribution unit, Legend, from its foreign-brand distribution unit, Digital.
The Goldman Sachs-led deal is currently being pre-marketed, with formal presentations scheduled to begin on Monday, May 14, for pricing on May 29. The IPO of Digital China will comprise an HKSE-listed red chip offering, with both an institutional and retail tranche. Co-leads are Casenove and Merrill Lynch, with Bank of China as co-manager.
Currently, Legend is 57%-owned by the Chinese Academy of Sciences, with the remaining 43% in public hands. Existing shareholders will be offered one Digital share...
