Google seeks to raise up to $221 million by selling Lenovo stock
Google is offering 371 million Lenovo shares in the range of HK$4.56 to HK$4.62 per share.
Google Inc is seeking to raise between US$218 million and US$221 million by selling shares in Chinese personal computer maker Lenovo, according to a deal term sheet seen by the International Financing Review on Wednesday.
Google is offering 371 million Lenovo shares in the range of HK$4.56 to HK$4.62 per share, a discount of up to 4 per cent to the last traded price, the terms showed.
Morgan Stanley is sole bookrunner.
Representatives of Google and Lenovo were not available for immediate comment.
Lenovo recorded a net loss of US$128 million for the financial year ended March 31, compared with a net profit of US$829 million a year earlier, according to its filing to the Hong Kong bourse on May 26.
It was the first time the world’s largest personal computer maker recorded a net loss in the past six years.