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Due to the news, shares of Lenovo closed at HKD 3.45 on September 9, 2009, dropping 5.7% and the largest decline since August 5, 2009.
Connie Ling, a Hong Kong-based spokeswoman for Goldman Sachs, and Anthony Feng, a Beijing-based spokesman for Lenovo, both made no comment on the issue.
Since 2009, shares of Lenovo have jumped more than 60% accumulatively. TPG, General Atlantic, and Newbridge Capital are forecasted to make a profit of HKD 240.5 million via the aforementioned share sale.
In fact, it is the second time for the three companies to reduce their holdings in Lenovo. The Chinese PC maker has been incurring losses for three consecutive quarters. Its shipments in the US and Europe also have been declining amid the global financial crisis.
Source: www.163.com (September 10, 2009)
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