HONG KONG—Legend Holdings Corp., the largest shareholder in personal-computer maker Lenovo Group Ltd.
0992, -2.28% , aims to raise as much as $1.96 billion in an initial public offering in Hong Kong, in what could be the third-largest IPO in the city this year.
The Beijing-based firm, which is expected to take orders from investors Monday, is planning to sell 353 million shares at 39.80 Hong Kong dollars to 43 Hong Kong dollars ($5.13 to $5.55) each, a person familiar with the deal said Saturday.
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The firm has secured at least $700 million of orders from more than 20 cornerstone investors, which agreed to buy and hold the shares for a certain period once the firm is listed, the person said.
Should Legend go public, it could become the third-largest IPO in Hong Kong this year, after the $4.5 billion listing of China brokerage firm HTSC
6886, -1.77% 601688, +1.48% , or Huatai Securities, in May, and the $4.1 billion IPO by another securities firm, GF Securities Co. 1776, -1.27% , in March,according to Dealogic.
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