Semiconductor Manufacturing of China May Go Public Next Year
By Alan Patterson
03/27 19:48
quote.bloomberg.com
Shanghai, March 28 (Bloomberg) -- Semiconductor Manufacturing International Corp., a start-up China chipmaker partly owned by Toshiba Corp. and Fujitsu Ltd., said it plans to go public next year as it seeks to grab more of a market now dominated by Taiwan Semiconductor Manufacturing Co.
``The Nasdaq is one possibility,'' said Richard Chang, Semiconductor Manufacturing's chief executive officer, in an interview. ``The New York Stock Exchange is another, and there's also Hong Kong.''
Investment banks, who have been chasing the more than $6 billion in Asian share sales shelved after Sept. 11, have started visiting the company on a monthly basis, according to Joseph Xie, a senior director at the company. Semiconductor Manufacturing expects to select an adviser for the sale in about six months, Chang said.
The Shanghai chipmaker competes with Taiwan rivals TSMC and United Microelectronics Corp. in the market of making chips for other companies. It's main rival in China will be Grace Semiconductor Manufacturing Corp., a company founded by the son of Chinese President Jiang Zemin, which expects to start production in March next year. |
