CHINA BRIEF | Chinese largest chipmaker SMIC to debut on STAR board this Thursday

Written by Wency Chen Published on 

SMIC is benefiting from the ongoing tech dispute between China and the US.

Shanghai-based chipmaker Semiconductor Manufacturing International Corporation (SMIC) (HKG: 0981) will debut on the Nasdaq-style technology-focused STAR board of the Shanghai Stock Exchange (SSE) on Thursday under the ticker “688981” at a price of RMB 27.46 (USD 3.9), according to the firm’s filing today.

SMIC’s IPO in the mainland stock market turns out to be the biggest in a decade raising as much as USD 7.6 billion. The initial offer was reportedly 566 times oversubscribed. Its Hong Kong-listed stock has more than tripled from the March lows to a fresh high of HKD 42 (USD 5.42) earlier this week.

The homegrown chipmaker rised to stardom amidst the “tech cold war” with Washington, which forces China to build a more self-reliable semiconductor industry. As part of the “Made in China 2025” plan, the country aims to produce 70% of all semiconductors it uses by 2025.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.  


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