HONG KONG (Reuters) -Shanghai Bright Power Semiconductor has agreed to buy a 100% 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)
(Reporting by Hong Kong newsroom; Editing by Himani Sarkar)
