Legend Holdings, the parent of the world’s biggest PC maker Lenovo, said it would buy a 15.9 percent stake in chipmaker Fullhan Microelectronics for 1.54 billion yuan ($236.9 million) in a push to diversify its portfolio.
Legend’s unit Dongfangqihui bought 12.8 million shares between Sept. 1 and March 17 from privately held Quick Talent Holdings, the company said on Wednesday, with the last round of transaction for a 5.2 percent stake yet to settle.
By investing in Fullhan, the Chinese firm “is eyeing on the long-term development potential of the semiconductor track and pan-security field, which is expected to increase the return on investment income of the company’s financial investment segment,” Legend said.
