Lenovo’s shareholders give their overwhelming nod to company’s plan to sell Chinese depositary receipts in Shanghai’s Star Market

Lenovo’s shareholders have given their nod to an initial public offering of Chinese depositary receipts by the world’s largest personal computer maker on Shanghai’s Star Market, in a landmark sale that may encourage more overseas-listed technology companies to follow suit. The plan by Lenovo to issue 1.3 billion CDRs, first announced in January, was approved by 99 per cent of shareholders, according to a filing to the Hong Kong stock exchange. Based on Lenovo’s Wednesday closing price in Hong...