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Lenovo withdraws application for $1.6 bln Shanghai listing

China’s Lenovo Group Co, the world’s biggest maker of personal computers (PCs),has withdrawn its application for a 10 billion yuan ($1.55 billion) share listing in Shanghai, a Shanghai Stock Exchange filing showed on Friday.

The company only had its application for a share sale accepted by Shanghai’s STAR Market at the end of last month.

The Shanghai Stock Exchange said Lenovo and its sponsor, investment bank China International Capital Corp, had asked to withdraw the application documents on Friday but did not give a reason for the move. Reuters

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