semiconductor / news / / South China Morning Post
SMNC is to become a wholly owned subsidiary of SMIC, boosting the semiconductor manufacturer’s prowess and market position.
SMIC has received regulatory approval to acquire the remaining 49% stake in SMNC.
KEY POINTS
- The deal values the 49% stake in SMNC at 40.6 billion yuan (US$5.97 billion).
- SMIC will issue 547.2 million A-shares to five state-linked investors for the acquisition.
- Post-acquisition, SMNC will become a wholly owned subsidiary of SMIC, enhancing its earnings per share.
COMPANIES
Summarized by Newsio from South China Morning Post. How we summarize →