Hangzhou SDIC Microelectronics (SHA:688130) expressed its intent to acquire between 60% and 70% of Chipbond Technology's unit, Shenzhen Chipbond Zhixin Microelectronics, for up to 140 million yuan, according to a Friday disclosure on the Shanghai Stock Exchange.
A formal agreement will be formulated if both parties agree to the intent.
The transaction is still in the planning stage, the Chinese hybrid integrated circuits maker said.
SDIC's shares rose more than 2% in recent trade.
Price (RMB): ¥16.82, Change: ¥+0.33, Percent Change: +2.00%
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