Lenovo Group (00992.HK) announced that the shareholders' meeting held yesterday (12th) passed the resolution related to the strategic business trade announced in May this year, approving the issuance of $2 billion interest-free convertible bonds to Alat, as well as the issuance of 1.15 billion warrants. It is introduced that Alat is a company under the Saudi Arabian Public Investment Fund that focuses on transformative technology investments and sustainable manufacturing.

Lenovo stated that the strategic business trade approved by the shareholders' vote this time will help the group accelerate its fundraising for growth and transformation. Furthermore, the introduction of Alat as a long-term strategic partner will further support the company in expanding its global supply chain layout, accelerating business expansion in the Middle East and Africa markets, and enhancing financial flexibility. (js/w)

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