Telecom equipment vendor Datang Telecom will make a further investment in local Semiconductor Manufacturing International Corporation (SMIC).
Datang, which is already the major shareholder in SMIC, will buy about 85 million convertible preference shares…
Telecom equipment vendor Datang Telecom will make a further investment in local Semiconductor Manufacturing International Corporation (SMIC).
Datang, which is already the major shareholder in SMIC, will buy about 85 million convertible preference shares at HK$5.39 (US$0.69) each, and approximately 17 million warrants for HK$5.39 as well, according to a SMIC statement.
The total new investment will therefore be of around US$70m in return for an additional 3.2% stake in the semiconductor company. SMIC said it would use the net proceeds for capital expenditure and debt repayment.
In late April, SMIC had already announced that it received US$250m from China Investment Corp (CIC), which obtained an 11.6% stake in the company in return.
