The sale could raise $3.2 billion at the compony’s current market cap of $11 billion.SMIC is listed on the Hong Kong exchange and plans to issue new shares for the STAR offering.SMIC has cash of $2.2 billion. The expectation is that SMIC wants more funds to try and improve its process technology. Currently its best process is 14nm.It is also thought that SMIC is trying to wean itself off a dependence on US capital.
Source: This news has been taken from www.electronicsweekly.com
