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Semiconductor Manufacturing International Corp announces placing of existing shares and subscription of new shares and proposed issue of $95 mln zero coupon convertible bonds due 2018


Thursday, 5 Jun 2014 12:29am EDT 

Semiconductor Manufacturing International Corp:Says the vendor entered into the placing and subscription agreement with the joint placing agents and the company.Pursuant to which the vendor agreed to appoint the joint placing agents, and each of the joint placing agents has agreed, severally and not jointly, to act as agent for the vendor.To purchase or procure purchasers to purchase 2,590,000,000 sale shares held by the vendor at the price of HK$0.60 per sale share.The Vendor will subscribe for 2,590,000,000 Subscription Shares at the price of HK$0.60 per subscription share.An application will be made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the subscription shares.Says the company and the joint managers entered into the bond subscription agreement.Pursuant to which each of the joint managers has agreed to subscribe and pay for, or to procure subscribers to subscribe and pay for the further bonds to be issued by the company in an aggregate principal amount of $95 mln.An application will be made to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the new conversion shares.Net proceeds (net of fees, commissions and expenses) from the issue of the Subscription Shares and the Further Bonds will be about $291.2 mln.Intends to use the net proceeds for its capital expenditure used for capacity expansion associated with 8-inch and 12-inch manufacturing facilities and general corporate purposes. 

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