Legend Holdings to be listed in 5 to 7 years

06:54, June 02, 2010      

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Legend Holdings Limited, a Chinese investment holdings company in IT, investment, and real estate formed by the Chinese Academy of Sciences (CAS), will be listed in Hong Kong within seven years, said Liu Chuanzhi, president of Legend Holdings Monday in Wuxi.

Currently, shares of Legend Holdings pertain to three parts: CAS Holdings with 36 percent, staff and workers with 35 percent and Asia Standard International Group Ltd. with 29 percent.

Business in Legend Holdings can be divided into three main parts which are the core industries, like Lenovo Group (already listed in Hong Kong) and Raycom Real Estate as the first part, investment business, like Legend Capital and Hony Capital as the second and the third part consisting of Legend business incubator, angel investment and public welfare.

In 2010, Legend Holdings established an angel investment fund by 400 million yuan ($58.57 million) aiming to support high-tech startups with its profits flowing back to Legend angel investment.

Legend Holdings has always been trying to develop and train entrepreneurial talents with high-tech skills, but at the same time encouraging people to establish business in traditional sectors.

Source: Global Times


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