BUZZ-SMIC's HK shares hit record high on A-share issue plan to buy stake in unit
Reuters
Sep 01
BUZZ-SMIC's HK shares hit record high on A-share issue plan to buy stake in unit
** Semiconductor Manufacturing International Corporation (SMIC) 0981.HK rises 8.2% to HK$65.65, highest since market debut in March 2004
** Fourth biggest pct gainer on Hang Seng Tech Index .HSTECH
** Shanghai-listed stock 688981.SS halted trade on Monday
** China's largest contract chipmaker planning to acquire 49% equity interests in its controlled subsidiary Semiconductor Manufacturing North China (Beijing) Corp (SMNC) via A shares
** Adds deal still at planning stage
** Signs intention agreement on asset purchase with SMNC's key shareholders; deal not expected to constitute significant asset restructuring, reorganisation listing
** YTD, SMIC HK stock surges 100.3%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.