The highly diversified investment company has a 30.56 per cent controlling stake in principal subsidiary Lenovo, the shares of which started trading in Hong Kong's main board on February 14, 1994.

"After the IPO, the synergy between Legend and Lenovo will likely be strengthened as the parent firm pursues new investments that may complement Lenovo's prominent computer and smart mobile device businesses," Ricky Lai, a research analyst at Guotai Junan International, said on Tuesday.

Lenovo is currently building up its enterprise and smart mobile devices operations, after last year completing its two biggest acquisitions to date: a US$2.91 billion purchase of Motorola Mobility from Google, and a US$2.1 billion takeover of IBM's x86 server business.

Lai said Legend was well-positioned to pursue investments in a strategic components supplier or technology services provider that could support Lenovo's initiatives in the consumer electronics and other markets.

Yang Yuanqing, Lenovo’s chairman and chief executive, said last month the company will seek out new partnerships to further diversify its operations.

This would "spur a new wave of growth for Lenovo in the coming years,” he said.

The company’s share price rose to HK$11.40 in early trading on Tuesday, but closed down 2.69 per cent to HK$10.86.

The computer giant, which has headquarters in Beijing and North Carolina in the United States, operates in over 160 countries.

READ MORE: Lenovo unveils new smartphone, smartwatch and fitness tracking shoes in Beijing

Controlling shareholder Legend said in a regulatory filing on Tuesday that it has signed up 24 so-called cornerstone investors to subscribe to about half of its global share offering. Legend started off as a personal computer distributor in mainland China in 1985.

The investors include Hong Kong-based asset management firms China Life Franklin and China Re, as well as state-owned China National Building Material Company. Joining them on the list are Taiwanese insurer Fubon Life, Suning International, TCL subsidiary Heywin Investments, and Ping An of China, the overseas investment arm of Ping An Insurance Group.

Founded by entrepreneur Liu Chuanzhi in 1984, Legend has grown into one of mainland China's biggest investment groups. It posted total revenue of 289.5 billion yuan (US$47.2 billion) last year and had combined assets worth 289 billion yuan as of December 31.

Apart from Lenovo’s IT business, Legend is involved in financial services, logistics, food and agriculture, property, financial investments, chemicals and energy materials, car rentals and China's largest dental service chain, Bybo