🔴 Lenovo Group is trading 11.35% down after concerns over US$2 billion debt refinancing

Lenovo Group is trading at $58.71, down 11.35%, amid concerns over its planned US$2 billion debt refinancing.

• The October 22 decline also reflected Citi’s 20% price-target cut. Citi retained its Buy rating, citing potential dilution from convertible bonds and warrants.
• Omdia reported third-quarter PC shipment weakness, with Lenovo’s unit volumes lower year over year and industry-wide declines, alongside a broad Hong Kong technology selloff.