By Yifan Wang

Shares of Lenovo Group Ltd. jumped as investors welcomed plans by the world's largest personal-computer maker to trade securities in China.

The company's Hong Kong-listed shares rose as much as 17% to 9.42 Hong Kong dollars, putting the stock on track for its highest closing level in more than five years.

Lenovo late Tuesday detailed plans to issue and list Chinese depositary receipts on the Shanghai stock exchange's STAR board, joining a string of Chinese tech giants that have sought to float shares closer to home as geopolitical uncertainties rise.

The proposed China offering comes as sales are surging for Lenovo, driven by a computer demand boom amid the pandemic after years of stagnating growth due to market saturation in the global PC industry.

The company's PC sales hit an all-time high in the September quarter, as consumers and companies increasingly went online.

Lenovo shares were recently 15% higher at HK$9.25.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

01-12-21 2205ET