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Lenovo shares fall after CEO Yang Yuanqing cuts stake

2015-03-10 GMT+8:00

BEIJING, Mar.10 (Xinhua) -- Lenovo Group Ltd. (00992.HK; LNVGY.PK), the word's biggest personal computer maker, fell 1.96 percent on Monday in Hong Kong trading after its Chief Executive Officer Yang Yuanqing cut his stake in the company to 6.66 percent from 6.96 percent last week.

According to data from Hong Kong Exchanges and Clearing Ltd., Yang sold a total of 33.196 million shares for around 398.3 million Hong Kong dollars from March 2 to March 5.

Lenovo's shares closed lower at HKD12 on Monday in the Hong Kong stock market. Previously, the company climbed about 20 percent in February after reporting upbeat results.

Lenovo's earnings report released early in February showed that its revenue rose 31 percent on a yearly basis to 14.1 billion U.S. dollars from October to December 2014. (Edited by Ding Lei,