Smic's Hk Shares Hit Record High On A: share issue plan to buy stake in unit

Semiconductor Manufacturing International

01/09/2025 06:37

** Semiconductor Manufacturing International Corporation (SMIC) 0981.HK rises 8.2% to HK$65.65, highest since market debut in March 2004

** Fourth biggest pct gainer on Hang Seng Tech Index .HSTECH

** Shanghai-listed stock 688981.SS halted trade on Monday

** China's largest contract chipmaker planning to acquire 49% equity interests in its controlled subsidiary Semiconductor Manufacturing North China (Beijing) Corp (SMNC) via A shares

** Adds deal still at planning stage

** Signs intention agreement on asset purchase with SMNC's key shareholders; deal not expected to constitute significant asset restructuring, reorganisation listing

** YTD, SMIC HK stock surges 100.3%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))