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United Nova Divests Authorization for Propriety Technologies for 1.21 Billion Yuan; Shares Up 3%

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United Nova Technology (SHA:688469), along with some of its subsidiaries, plans to divest the authorization of supporting patents and non-patent proprietary technologies for a consideration 1.21 billion yuan, according to a Shanghai bourse filing on Friday.

Xinlian Advanced Integrated Circuit Manufacturing (Shaoxing) will acquire the rights to the technologies for the establishment of an automotive-grade mixed-signal integrated circuit manufacturing line, which produces 50,000 12-inch automotive-grade mixed-signal wafers every month.

The power discrete and modules manufacturer's shares rose 3% during the afternoon trade.

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