China’s Wingtech Technology, the world’s largest original design manufacturer (ODM) for smartphones, is purchasing more shares in Nexperia Holding for over 6.33 billion yuan ($893 million), further cementing its control of the Dutch semiconductor business.
Wingtech, which manufactures telecom equipment for clients such as Huawei and Xiaomi, plans to buy an additional 23.77 per cent stake in a special purpose vehicle (SPV) created for the purpose of owning its stake in Nexperia, Wingtech disclosed in a filing with the Shanghai Stock Exchange (SSE) on Wednesday.
