SMIC Receives Nod from Listing Committee, Prepares for Star Market IPO in July
The Shanghai tech-focused trading platform has approved the mainland’s largest semiconductor foundry’s public offering.
On June 19, less than 20 days after the submission, the Sci-Tech Innovation Board, dubbed the Star Market, greenlighted Semiconductor Manufacturing International Corporation’s (SMIC, 00981:HKEX) public offering. The world’s fifth-largest foundry, which is currently trading in Hong Kong, is now expected to list shares in its hometown – Shanghai – within two weeks.
Founded in 2000, SMIC has been competing against the likes of Taiwan Semiconductor Manufacturing Company (TSMC), one of the biggest chipmakers globally, concentrating on integrated circuit (IC) fabrication, packaging, testing and other services.
Check out our recent in-depth analysis of SMIC, its core technologies and current position in the global semiconductor industry.
Amid the ongoing tech tussles between the United States and China, chipmakers are those suffering the most. SMIC, the Asian country’s top player in the space, is at risk of losing key equipment suppliers. Meanwhile, it can potentially benefit from this clash, winning domestic orders for chips made at 14 nm.