SMIC Registers for Star Market Listing, Eyes CNY 20 Billion IPO
Chinese semiconductor foundry SMIC, which received the Shanghai Stock Exchange STAR Market Listing Committee's approval on June 19, has reportedly sent the document required for the initial public offering to the bourse. This is arguably the fastest IPO application review in China's modern stock market history, as it took the Shanghai-based company less than one month. Chinese chipmakers are likely to face profound difficulties in the short term as the international supply chain is getting disrupted in many ways. In the long run, the global economic uncertainties, ubiquitous competition in the domain will shape the strategies of up-and-coming Chinese semiconductor companies. Representing the country in one of the principal subsectors, SMIC, seemingly, has no margin for error.