Lenovo's STAR turn powers its shares on Hong Kong bourse

CDR plan follows solid PC sales during COVID; proceeds for R&D, investments

Shares of Chinese mainland technology heavyweight Lenovo Group Ltd on the Hong Kong bourse jumped nearly 10 percent to HK $8.83 ($1.14) on Wednesday, after the company said it planned to issue Chinese depositary receipts on the STAR Market in Shanghai.

The Shanghai Stock Exchange's Science and Technology Innovation Board is also known as the STAR Market.

Lenovo's CDR plan came on the heels of strong sales of personal computers in an environment of remote work, and home-based learning and entertainment that have become the norm due to the COVID-19 pandemic.