Semiconductor Manufacturing International Corporation
Announces Proposed Dual Listing On SEHK And NYSE
Shanghai, China, 7 March 2004
Semiconductor Manufacturing International
Corporation ("SMIC" or "the Company"), one
of the leading semiconductor foundries in the world, announced
today the offering details of its shares on The Stock Exchange
of Hong Kong ("SEHK") and American Depositary Shares
("ADSs") on the New York Stock Exchange ("NYSE").
SMIC's global offering is expected to consist of an offering of ADSs
in a public offering in the United States and on a private placement basis in
Canada, an international offering of ADSs outside the United States and Canada,
including to institutional and corporate investors in Hong Kong and in a public
offering without listing in Japan, and a Hong Kong public offering of ordinary
shares. The ADSs are to be offered by SMIC and certain of its shareholders. SMIC
will not receive any proceeds from the offering by the selling shareholders.
This proposed offering would result in new financing for SMIC.
SMIC and certain of its existing shareholders intend to offer a total of 5,151,515,000
ordinary shares (including ordinary shares represented by ADSs but excluding
772,727,000 ordinary shares available to cover over-allotments). 4,893,939,000
ordinary shares, or 95%, will be allocated to the U.S. offering and the international
offering, and 257,576,000 ordinary shares, or 5%, will be allocated to the Hong
Kong public offering. The price range for the Hong Kong public offer is between
HK$2.39 and HK$2.69 per ordinary share.
Copies of a preliminary prospectus can be obtained from the joint bookrunners
at: Credit Suisse First Boston, Prospectus Department, 11 Madison Avenue, New
York, New York, Telephone: 212-325-2580 or Prospectus Department, Deutsche Bank
Securities, 60 Wall Street, 4th Floor, New York, New York 10005, Telephone: 212-250-2500.
Prospectuses and application forms for the Hong Kong public offer will be available
to investors from 9:00 am on Monday, March 8, 2004 at locations as described
in the formal notice to be published during the offer period, and will contain
full details about the Hong Kong public offer and the Company. The Hong Kong
public offer will close at 12:00 noon on Thursday, March 11, 2004 and the final
offer price is expected to be published on or before Wednesday, March 17, 2004
. Dealing in the ADSs on the NYSE is expected to commence on Wednesday, March
17, 2004 . Dealing in the shares on the SEHK is expected to commence on Thursday,
March 18, 2004 .
Credit Suisse First Boston is the global coordinator of the share offer. Credit
Suisse First Boston ( Hong Kong ) Limited and Deutsche Bank AG, Hong Kong Branch
are the joint bookrunners.
About SMIC
SMIC is one of the leading semiconductor foundries in the world.
As a foundry, SMIC fabricates semiconductors for customers based
on their own or third parties' integrated
circuit designs. SMIC was founded in April 2000 and currently offers a wide range
of leading edge integrated wafer manufacturing services, including copper interconnects
capabilities, to its global customer base. SMIC operates 8-inch wafer fabrication
facilities in the Zhangjiang High-Tech Park in Shanghai, China and, as a result
of a recent acquisition, an 8-inch wafer fab in Tianjin, China. In addition,
SMIC is currently constructing 12-inch wafer fabrication facilities in Beijing, China.
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