Taiwan-based Powerchip sold its 24% stake in Rexchip Electronics yesterday for NTD10bn ($334m) to US-based technology company Micron. Powerchip’s shares rose 7% in trading yesterday as Asian markets opened after the announcement. In 2006 Powerchip and Elpida, which is also being acquired by Micron for $750m in a related announcement, set up Rexchip as a joint venture.

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