According to the recent research, there are over 80% of people would be motivated to exercise if incentivized by crypto...


Recent Study Reveals That Crypto Motivates People to Exercise

On Friday, Prime Minister Ranil Wickremesinghe warned of a food shortage as the island nation battles a devastating economic...


Thousands queue for petrol, gas in Sri Lanka amid warnings of food shortages

ASML, a semiconductor industry and stock market giant, might have to think smaller. Or maybe bigger. Currently, it is building machines...


Computer chip giant ASML places big bets on a tiny future

Finance ministers and central bank governors of the United States, Japan, Canada, Britain, Germany, France and Italy - the G7, agreed on...


Money for Ukraine Priority in G7 Agenda; Inflation, Food a Concern

An auto safety agency in the U.S. said on Wednesday that it has opened an investigation into a fatal crash involving a Tesla...

Stock Markets

U.S. Agency opens investigation involving Tesla due to 14 Crash Deaths

Stock Markets

11 Oct 2021

Lenovo Stocks Drop 17% after Shanghai Listing Withdrawal

Lenovo Stocks Drop 17% after Shanghai Listing Withdrawal

The Index Today

Lenovo Group Ltd saw its stocks fall more than 17% after withdrawing its Shanghai listing for 10 billion Yuan. The decline has so far been its biggest intraday fall in almost 10 years.

The technology giant announced to take back its application after it was accepted by Shanghai’s STAR market on Friday. The reason behind the application withdrawal is said to be linked to the validity of the financial information provided in the prospectus. The company has not provided any more detail on the matter.

Lenovo also stated, “Relevant capital market conditions such as the latest circumstances in connection with the listing.” Furthermore it said, “The group’s business operations are in good condition as usual. The withdrawal of the application is not expected to give rise to any adverse impact on the financial positions of the group.”