SMIC increases investment in SMIC Southern by USD 3.66 billion, raising its stake to 41.561%
SMIC (00981.HK) announced that it has signed a new joint venture contract and a new capital increase agreement with the National Integrated Circuit Industry Investment Fund and seven other shareholders. According to this agreement, the total cash contribution to SMIC Southern will amount to USD 7.778 billion, of which the company will contribute USD 3.663 billion, with funding sources including its own funds and external financing.
Upon completion, the registered capital of SMIC Southern will be increased from USD 6.5 billion to USD 10.0773 billion, and the company's shareholding will increase from the current 38.515% to 41.561%, remaining a subsidiary of the company
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