February 12, 2004 – China’s Semiconductor Manufacturing International Corp. has filed with US securities regulators for a $714 million initial public offering in Hong Kong and New York.

The proceeds will be used to build and ramp up wafer fabs in Shanghai and Tianjin, boosting 200mm capacity by 134% to nearly 115 wafers/month by the end of 2004, and to 170,000 wafers/month by the end of next year.

SMIC has spent nearly $2 billion, mostly through equity financing, and plans to spend another $2 billion this year and $1.4 billion next year through the IPO and other fundraising efforts.