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SMIC Increases Investment in SMSC by USD3.66B, Raising Stake to 41.561%
Recommend 11 Positive 17 Negative 7 |
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SMIC (00981.HK) announced that it had entered into New JV Agreement and the New Capital Injection and Share Expansion Agreement with China IC Fund and six other shareholders. Pursuant to the agreements, a total cash investment of USD7.778 billion will be made by capital increase parties to SMSC, with the Company contributing USD3.663 billion, sourced from its own funds and external financing. Upon completion, the registered capital of SMSC will increase from USD6.5 billion to USD10.0773 billion, and the Company's stake in SMSC will rise from the current 38.515% to 41.561%, with SMSC remaining a subsidiary of the Company. AASTOCKS Financial News Website: www.aastocks.com |
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