(Yicai Global) May 26 -- Shares in China’s NetPosa Technologies hit the daily up limit again today after it revealed plans to buy a controlling stake in Jingshida.Cn, an integrator of rail transit monitoring systems.

NetPosa stock [SHE:300367] opened by the maximum 10 percent at CNY3.62 (51 US cents) and was still there as of 1.30 p.m. Its shares rose by the same amount yesterday, despite the US Department of Commerce adding the firm to its Entity List for allegedly violating human rights and severely restricting the business NetPosa can do with American firms. The DOC added 33 companies to the list over the weekend.

NetPosa plans to pick up a majority stake in Beijing-based Jingshida at a valuation of between CNY600 million (USD84 million) and CNY800 million, according to an agreement signed by the pair that does not disclose exactly how much equity NetPosa will purchase.

Editor: James Boynton