SMIC: The matter of issuing shares to purchase 49% equity of SMIC Northern has obtained the approval and registration reply from the China Securities Regulatory Commission.
SMIC has received approval from the China Securities Regulatory Commission (CSRC) to issue shares to acquire a 49% stake in SMIC Northern Integrated Circuit Manufacturing (Beijing) Co., Ltd. This approval is valid for 12 months and allows SMIC to proceed with the share issuance to five entities, including the National Integrated Circuit Industry Investment Fund. The move is part of SMIC's strategy to consolidate its ownership in key subsidiaries. AI
IMPACT This acquisition could bolster SMIC's capacity in advanced semiconductor manufacturing, potentially impacting the supply chain for AI hardware.