Legend Holdings Corporation Class H (HK:3396) has released an update.
Legend Holdings Corporation announced a strategic collaboration between its subsidiary Lenovo and Alat, a subsidiary of Saudi Arabia’s Public Investment Fund, aiming to boost Lenovo’s global strategic transformation and presence in the MEA region. The agreement includes the creation of a regional headquarters and a new manufacturing site in Saudi Arabia, which will enhance Lenovo’s supply chain resilience. Additionally, Lenovo plans to issue $2 billion in zero-coupon convertible bonds to Alat, facilitating debt repayment and general corporate purposes.
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