PATEO CONNECT jumps on plan to buy control of integrated circuit designer
03/06/2026 04:16
BUZZ-PATEO CONNECT jumps on plan to buy control of integrated circuit designer ** Shares of China-based smart cockpit solutions provider PATEO CONNECT Technology (Shanghai) Corporation 2889.HK jump 12.2% to HK$242.4, on track for the biggest one-day pct gain since May 27
** Stock touches the highest level since May 29
** PATEO CONNECT teams up with Ping An to buy control of an integrated circuit design enterprise specialized in the development of high-performance communication chips
** The deal aims to facilitate the company's strategic expansion into the upstream chip sector, it says
** YTD, PATEO CONNECT stock up 7%, while Hang Seng TECH Index .HSTECH down 7.9%
(Reporting by Donny Kwok)
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