Thursday, March 27, 2008

Semiconductor Manufacturing Int'l may sell stake

Semiconductor Manufacturing International Corp<981>, China's largest chipmaker, is in advanced talks with a strategic investor on share sale.

The Shanghai-based company is negotiating at an advanced stage to sell shares or convertible securities to a strategic investor, according to its filing with the Hong Kong Stock Exchange, without elaborating the identity of the strategic investor and the amount of stock the latter would hold.

The chipmaker has been seeking strategic investors with an aim to ease the financial crisis amid the continuing losses, according to the earlier report. It attracted Bain Capital LLC, General Atlantic LLC and Kohlberg Kravis Roberts & Co, which may jointly invest US$600 million for a 20%-25% stake in the Chinese company.

Semiconductor Manufacturing is engaged in the computer-aided design, manufacturing, packaging, testing and trading of integrated circuits and other semiconductor services, and manufacturing design of semiconductor masks.

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