By Alan Patterson, EETimes (May 11, 2020)
TAIPEI — Semiconductor Manufacturing International Corp. (SMIC), based in Shanghai, aims to sell new shares that could raise more than $3 billion for investment in expansion.
The board of China’s biggest foundry earlier this month approved a proposal to issue 1.69 million new shares on China’s Sci-Tech Innovation Board, also known as the STAR market, for technology companies. Based on the value of SMIC’s shares listed in Hong Kong, the sale of the new shares could raise about $3.2 billion.