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SMIC Soars 3%+ on Acquisition of 49% Stake in SMNC for Final Price of RMB40.6B
Recommend 16 Positive 25 Negative 6 |
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SMIC (00981.HK) opened 2.8% higher today, and peaked at HK$72.3. It last stood at HK$72.1, up 3.67%, with a turnover of 10.4085 million shares, amounting to HK$746 million. SMIC announced that it had entered into a Supplemental Agreement with five vendors, including China IC Fund and Semi Investment Center, pursuant to which, the final consideration for the acquisition of a 49% stake in SMNC is RMB40.6 billion, which is to be paid by issuing a total of 547 million A-shares. Upon completion, the Company will hold 100% equity in SMNC, which will help further improve the Company's asset quality and strengthen business synergies. China IC Fund's shareholding in the Company will increase from the current 4.79% to 8.66%. AAStocks Financial News |
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