SMIC Returns to A Share Market

Updated:2020/5/7 22:20

One year after its delisting from the US market, Semiconductor Manufacturing International Corporation (SMIC) announced on the evening of May 5 that it planned to issue less than 1.686 billion shares in Sci-Tech innovation board of China. It is estimated that its financing scale will reach 30 billion yuan.

About 40% of the fund will be invested in the project of 12-inch chip SN1; about 20% will be used as the reserve fund for the R&D projects for advanced and mature processes; about 40% will be the supplementary current capital.

To some extent, SMIC's return to the A-share market can hedge the risk caused by the technology boycott of the US on Chinese enterprises. On April 17, Reuters quoted that Huawei is gradually transferring the production of its internal designed chip from Taiwan Semiconductor Manufacturing Company (TSMC) to SMIC, in case that the US will place more restrictions.

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