DJ: NEC Corp Raising Up To US$235mn By Selling Shares In Lenovo Group

HONG KONG--NEC Corp. (6701) is raising up to US$235 million by selling shares in the computer maker Lenovo Group, according to a term sheet seen by Dow Jones Newswires Tuesday.

NEC is selling 281.1 million shares in a range of HK$6.30-HK$6.50 each, the term sheet showed, representing a 1.8% to 4.8% discount to Tuesday's closing price of HK$6.62.

Credit Suisse Group is handling the transaction.