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SMIC Sells All Equities of Its Subsidiary SJ Semiconductor Corporation

Updated:2021/4/25 13:39

SMIC issued an announcement stating that it proposes to transfer the entire equity capital of its holding subsidiary SJSemi, which accounts for approximately 55.87% of the total issued share capital of the target company; The total consideration for the transaction was approximately $397 million, and the transaction generated a gain of approximately $231 million (unaudited).

According to the announcement, SJSemi was founded in August 2014 as an exempted limited company incorporated in the Cayman Islands. As of the date of this announcement, 55.87%, 29.31%, 8.62% and 5.86% of the equity are owned by SJSemi, China Integrated Circuit Industry Investment Fund Co., Ltd. (CICF), Jiangsu Changjiang Electronics Tech Co. (JCET) and Qualcomm respectively. The remaining 0.34% equity is jointly held by multiple SJSemi employees.

SJSemi (Hong Kong), as well as SJ USA, are wholly owned by SJSemi, whereas SJSemi (Jiangyin) is wholly owned by SJSemi (Hong Kong). The above-mentioned companies are committed to becoming a leading specialized mid-stage silicon wafer processing enterprise focusing on advanced bump manufacturing technology, and to providing convenient one-stop service as well as high quality, efficient chip processing for domestic and foreign customers, to help local and international customers further enhance their global business competitiveness.

 Source:C114
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