Shanghai Bright Power plans to buy Chinese charging chip maker for $457 million
FILE PHOTO: Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
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)
Source: Reuters
