China's Yitoa Jumps After Japanese Gov't Approves Deal to Buy Chip Firm Pioneer Micro(Yicai Global) Aug. 24 -- Shares of Yitoa Intelligent Control surged after it said in a filing with the Shenzhen Stock Exchange today that the Japanese government has permitted its purchase of semiconductor maker Pioneer Micro Technology.
Yitoa's stock price [SHE: 300131] jumped 4.4 percent to CNY7.07 (USD1) this morning.
A unit of the Shenzhen-based home appliance parts maker penned a deal in March about acquiring the Japanese chip firm for CNY192 million (USD27.7 million), the buyer said earlier.
Editor: Emmi Laine
