SMIC plans $103 mn share sale

HONG KONG: Semiconductor Manufacturing International Corp (SMIC) plans to raise $103 million by selling new shares, a term sheet seen by Reuters on Wednesday showed.

The shares are being sold in the range of HK$0.52-HK$0.54 each, compared with the last traded share price of HK$.059.

Also read: Annual chip sales up 47.6 p.c

Meanwhile, Dow Jones Newswires said that state-owned Datang Telecom Technology & Industry Holdings Co. is seeking to raise its stake in SMIC to 19.1 per cent from 15.2 per cent by subscribing to 1.5 billion new shares in the company.

(With inputs from Reuters)