Movement Alert|LEGENDHOLDING Rises 3.72% in Regular Trading, First-Round Bidding for Luxembourg Bank Stake Sale Nearing Deadline

Market Focus
Sep 29

On September 29, LEGENDHOLDING rose 3.72% in regular trading, trading at HKD 25.08/share, with turnover of HKD 38.08 million.

On the news front, the company is working with Goldman Sachs to seek buyers for its approximately 90% stake in Banque Internationale a Luxembourg (BIL), with first-round bids due by the end of September. The lender could be valued at approximately EUR 2.5 billion or more, representing over 50% appreciation from the original acquisition price of roughly EUR 1.65 billion. Interest from European and Middle Eastern institutions has been reported, though there is no certainty a deal will be reached.

Citi has maintained a \"Buy\" rating, noting the potential disposal could narrow the company's estimated NAV discount of approximately 75%, viewing it as a first step toward transforming into a more technology-focused holding company. On the fundamentals side, the company reported H1 revenue of RMB 362.935 billion, up 29% year-over-year, and net profit attributable to equity holders of RMB 2.23 billion, up 219%, driven by AI business growth at its core subsidiary and a turnaround in its industrial investment segment.

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