The initial public offering price of China's biggest foundry, Semiconductor Manufacturing International Corporation (SMIC), is set at RMB 27.46 and the scale of fund raising will exceed RMB 50 billion if an over-allotment option is exercised.
The initial number of shares to be issued will be 1,685,620,000 shares, which will represent approximately 23.62% of the share capital.
Haitong Securities has an over-allotment option of 15% of the initial issue size, and if the over-allotment option is exercised in full, the number of shares to be issued will be expanded to 1,938,463,300 shares, representing approximately 26.23% of the total issued share capital.
Headquartered in Shanghai, SMIC has a global manufacturing and service base.
It has a 300mm wafer fab and a 200mm wafer fab in Shanghai, as well as a holding in a 300mm advanced 300mm process wafer fab.
It has a 300mm wafer fab in Beijing and a majority-owned 300mm advanced process wafer fab in Beijing, and two 300mm wafer fabs in Tianjin and Shenzhen. It also has a 300mm bump processing joint venture plant in Jiangyin.
SMIC's 2019 revenue was approximately $3.116 billion, with a gross margin of 20.6%. Of this, net profit attributable to shareholders was approximately $235 million and EBITDA was a record $1.37 billion.
