Summary by Moomoo AI
Lenovo Group Limited announced on May 28, 2024 that it has entered into a strategic cooperation framework agreement and bond subscription agreement with Alat. It plans to issue convertible bonds with a total amount of $2 billion. On the same day, the company also proposed to issue 1,150,000,000 warrants, with a preliminary proceeds of approximately $210 million at HK$1.43 per share. If all are exercised, an additional $1.8 billion in funds will be obtained. The proceeds will be used for debt refinancing and to support business expansion and R&D investment in the MEA region. The shareholder meeting will be held on September 12, 2024 to deliberate on the relevant proposals. This strategic business transaction aims to drive the company's long-term growth in China and the MEA region, enter the Saudi Arabia and MEA markets through cooperation with Alat, and enhance the company's investment in AI and R&D field.
