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SMIC to Acquire 49% of SMIC North Via 41 Billion Yuan Share Placement

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Semiconductor Manufacturing International (HKG:0981, SHA:688981) plans to acquire 49% of SMIC Northern Integrated Circuit Manufacturing (Beijing) for 40.6 billion yuan, according to a Friday filing on the Shanghai bourse.

SMIC North manufactures computers and other electronic equipment.

The acquisition will be done through share placement. The company will place 547,182,073 shares to SMIC North's five shareholders, including the National Integrated Circuit Industry Investment Fund, for 74.20 yuan per share.

SMIC's Hong Kong shares rose 1% during the morning trade.

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