SUMCO eyeing $900M IPO?

August 23, 2005 – Mitsubishi Sumitomo Silicon Corp. (SUMCO), a wafermaking JV between Mitsubishi Materials Corp. and Sumitomo Metal Industries Ltd., is considering filing an initial public offering later this worth about ¥100 billion (US$905 million), which would be Japan’s second-biggest IPO, according to a Reuters report. Earlier this year SUMCO announced plans to invest ¥80 billion (~$750 million) to double its 300mm wafer production capacity to 600,000 wafers/month by mid-2008. Rival Shin-Etsu Chemical announced a similar $960 million investment plan late last year.


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