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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 684.83

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Dec 22 4:00 PM EST

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To: Johnny Canuck who wrote (40784)	3/7/2004 6:30:03 AM
From: Johnny Canuck	Read Replies (2) of 69180

2:58PM Semiconductor Manufacturing Int. boosts IPO size (TSM, UMC, SMI) by Steve Gelsi NEW YORK (CBS.MW) -- Semiconductor Manufacturing International Corp. (SMI) boosted the size of its initial public offering to 97.9 million American depositary shares, from an earlier level of 86.4 million shares. The Shanghai-based chip foundry is raising up to $1.7 billion at a price range of $15.50 to $17.50 with underwriters CS First Boston and Deutsche Bank. The move marks strong investor interest in the IPO. Growing about three times faster than competitors such as Tawain Semi (TSM) and United Micro Electronics (UMC), Semiconductor Manufacturing International Corp. (SMIC) is being valued at about 2.2 times book value compared to 4.4 for Taiwan Semi and 2.3 for United Micro. The IPO will likely price next week and then begin trading by the middle of March.

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