SMIC plans to sell its entire equity interest in its controlling subsidiary SJ Semiconductor Corporation for about $397 million, recording an unaudited gain of about $231 million, the leading contract chip maker in China said Thursday.
SJ Semiconductor was established in August 2014 with a total registered capital of $330 million and a planned total investment of $1.2 billion.
It has received investments from SMIC, the National Integrated Circuit Industry Investment Fund, Jiangsu Changjiang Electronics and Qualcomm Inc. It is the world's first mid-segment silicon wafer manufacturer to adopt the IC front-end chip manufacturing system and standards, and adopt an independent professional foundry model to serve global customers.
Starting with advanced 12-inch bump and rewiring processing, SJ Semiconductor is committed to providing world-class mid-segment wafer manufacturing and testing services.
SJ Semiconductor's Jiangyin site is the first 12-inch mid-wafer in China, specializing in 12-inch bumps and advanced wafer-level packaging.
Its Shanghai site provides 8-inch mid-bump and wafer-level packaging, and was the first 8-inch mid-wafer in China.
SMIC's counterparties in this transaction include Silver Starry, Integrated Victory, and CIM SAIC Emerging Industry Fund.