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Google seeking to raise up to $221 million by selling Lenovo stock: IFR
A woman holds her smart phone which displays the Google home page, in this picture illustration taken February 24, 2016.
Reuters/Eric Gaillard/Illustration/File Photo
Google Inc is seeking to raise between $218 million and $221 million by selling shares in Chinese personal computer maker Lenovo, according to a deal term sheet seen by IFR on Wednesday.
Google is offering 371 million Lenovo shares in the range of HK$4.56 to HK$4.62 per share, a discount of up to 4 percent to the last traded price, the terms showed.
Morgan Stanley is sole bookrunner.
Representatives of Google and Lenovo were not available for immediate comment.
(Reporting by Fiona Lau at IFR; Writing by Denny Thomas; Editing by David Goodman)
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