HONG KONG :Shanghai Bright Power Semiconductor has agreed to buy a 100 per cent stake in a Chinese wireless charging chip maker for 3.28 billion yuan ($457 million), to further expand its products portfolio and enhance competitiveness, it said in a Shanghai stock exchange filing late on Tuesday.
The Shanghai-listed firm said it would buy the stake in Sichuan Yichong Technology from the company’s shareholders, in a deal to be settled in cash and issue of shares.
($1 = 7.1819 Chinese yuan)
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