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Chinese chipmaker Semiconductor Manufacturing International planning IPO worth up to USD 7.5 bln

2020-07-06 13:13:00| Telecompaper Headlines

(Telecompaper) Chinese chipmaker Semiconductor Manufacturing International (SMIC) is planning an initial public offering that could be worth USD 6.55-7.5 billion, the Wall Street Journal reported. SMIC hopes to sell 1.69 billion new shares at CNY 27.46 (USD 3.89) per unit, and list them on the Shanghai Stock Exchange's Science and Technology Innovation Board, or Star Market.The company said the offering could be increased by a greenshoe of 15 percent. That would take the deal's size to about USD 7.5 billion.

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