Shenzhen China Micro Semicon (SHA:688380) plans to acquire 20% of Zhuhai Boya Technology through a 160 million yuan capital increase, according to a Monday disclosure on the Shanghai bourse.
Boya Tech produces NOR flash memory chips.
As part of the deal, the company will also have the right to nominate and select a general manager for Boya.
Semicon's shares dropped less than 5% during the afternoon trade.
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