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On May 11, SMIC made an announcement detailing its intention to issue shares to five entities, among which is the National Integrated Circuit Industry Investment Fund. The purpose of this move is to acquire an aggregate 49% stake in SMIC North, currently held by these institutions. The transaction is valued at approximately RMB 40.6 billion. This significant development has already secured approval from the Merger and Acquisition Restructuring Review Committee of the Shanghai Stock Exchange. However, its full implementation hinges on obtaining the necessary registration approval from the China Securities Regulatory Commission. Once the transaction is finalized, SMIC will assume complete ownership of SMIC North, thereby further cementing its preeminent standing within the industry.
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