Lenovo stock plunge 17% after withdrawing Shanghai listing application

Lenovo stock plunge 17% after withdrawing Shanghai listing application

Photographer: Joan Cros/NurPhoto via Getty Images/Bloomberg

Lenovo Group Ltd saw its stock fall more than 17% on Monday, its biggest intraday decline in over a decade, after the Chinese technology giant withdrew its application for a 10 billion yuan ($1.55 billion) share listing in Shanghai.