China’s biggest chipmaker SMIC to raise up to $7.5 billion in Shanghai listing, biggest in mainland in a decade
STOCKS
China’s biggest chipmaker SMIC to raise up to $7.5 billion in Shanghai listing, biggest in mainland in a decade
STOCKS

China’s biggest chipmaker SMIC to raise up to $7.5 billion in Shanghai listing, biggest in mainland in a decade

 

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China's largest chipmaker Semiconductor Manufacturing International Corp. (SMIC) plans to raise as much as 53.2 billion yuan ($7.5 billion) in its listing on China's Nasdaq-style STAR Market on the Shanghai Stock Exchange.

The deal is poised to be the biggest share sale in the mainland in a decade.

The company set the price of its shares to be traded in Shanghai at 27.46 yuan each, it said in a filing to the Shanghai Stock Exchange late Sunday. The offering values the company at 109.25 times its 2019 earnings . . .

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