From Breakingviews: Chip IPO tests Hong Kong-China feedback loop, says mak_robyn
China's Semiconductor Manufacturing International Corp will raise 46.2 billion yuan on the Shanghai STAR board, more than double its initial target, according to a stock exchange filing dated July 6.
The company will sell 1.7 billion A-shares at 27.46 yuan each, representing 23.6% of the total shares outstanding. The offering values the company at 109.3 times its 2019 earnings, according to the filing.
France Dernières Nouvelles, France Actualités
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