SMIC IPO keeps growing

March 12, 2004 – The highly-anticipated IPO for China’s Semiconductor Manufacturing International Corp., initially pegged at $1.5 billion, may top $1.80 million after being priced at the high range of estimates, according to Dow Jones and the Xinhua Financial News.

The size of the deal was increased by 13% in recent days, after it generated an eye-popping 200x oversubscription rate in Hong Kong. Proceeds will be used to boost capacity and upgrade equipment.

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