Puya Semiconductor Plans to Acquire SkyHigh Memory; Shares Soar 20%

MT Newswires Live

09/16

Puya Semiconductor (Shanghai) (SHA:688766) plans to acquire Hong Kong-based semiconductor maker SkyHigh Memory by taking over a controlling stake in the investee company, Zhuhai Noah Changtian Storage Technology, according to a Shanghai bourse disclosure on Wednesday.

SkyHigh specializes in 2D NAND and derivative memory products, such as SLC NAND, eMMC, MCP, developing technology for firmware algorithm development and other services. It has engineering centers in South Korea and Japan.

The stake will be bought from three investors.

The Chinese semiconductor devices manufacturer currently holds 20% of Zhuhai Noah, which was established to acquire SkyHigh.

Puya's shares surged 20% during midday trade.

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