Chinese chipmaker SMIC to raise $6.55b in Shanghai share sale

Chinese chipmaker SMIC to raise $6.55b in Shanghai share sale

Photo by Alexandre Debiève on Unsplash

China’s Semiconductor Manufacturing International Corp (SMIC) will raise 46.29 billion yuan ($6.55 billion) in a Shanghai share sale, more than double its initial target, pricing its offering following a surge in its Hong Kong-listed stock.

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