SMIC fully acquires 40.6 billion RMB of North SMIC, with the National Integrated Circuit Industry Investment Fund effectively increasing its stake to 9.25%
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SMIC (981) has been increased to 9.25% by the National Integrated Circuit Industry Investment Fund, with the stock price rising 5.1% to 75.1 yuan. The increase is valued at 26.5 billion yuan, and the National Fund purchased 357 million shares at 74.2 yuan per share on the 29th of last month. SMIC acquired 49% equity in SMIC North for 40.6 billion yuan, becoming a wholly-owned subsidiary, with the payment method being the issuance of A-shares
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