Key Developments: Semiconductor Manufacturing International Corp (SMI)

SMI on New York Consolidated

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27 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Semiconductor Manufacturing International Corp announces change of chairman of the board
Friday, 6 Mar 2015 05:07am EST 

Semiconductor Manufacturing International Corp:Announces the resignation of Zhang Wenyi as Class I executive Director, chairman of the Board.Appointment of Zhou Zixue as Class I executive Director, Chairman of the Board.  Full Article

Semiconductor Manufacturing International Corp announces proposed issue of new shares under general mandate
Thursday, 12 Feb 2015 08:48am EST 

Semiconductor Manufacturing International Corp:Enters into share purchase agreement with the Investor, China Integrated Circuit Industry Investment Fund Co., Ltd.Whereby (i) the company has conditionally agreed to allot and issue to the Investor, and the Investor has conditionally agreed to subscribe, through its wholly owned subsidiary incorporated in Hong Kong, for 4,700,000,000 new shares at the subscription price of HK$0.6593 per new share.Aggregate consideration for new shares is HK$3,098.71 million.New shares represent (i) about 13.10 pct. of existing issued share capital of the company as at date of this announcement and (ii) about 11.58 pct. of issued share capital of the company as enlarged by issue of new shares.Intends to use net proceeds from issue of new shares for purpose of capital expenditure, debt repayment and general corporate purpose.  Full Article

Semiconductor Manufacturing International Corp gives Q1 2015 revenue guidance above analysts' estimates
Monday, 9 Feb 2015 07:43am EST 

Semiconductor Manufacturing International Corp:Expects Q1 2015 revenue to increase by 2 - 5 pct quarter over quarter.Reported revenue of $485.9 mln in Q4 2014.Q1 2015 revenue of $478.58 mln - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp gives Q4 2014 revenue outlook below analysts' estimates
Wednesday, 5 Nov 2014 05:45am EST 

Semiconductor Manufacturing International Corp:Expects Q4 2014 revenue to decrease by 5-9 pct quarter over quarter.Reported revenue of $521.6 mln in Q3 2014.Q4 2014 revenue of $527.2 mln - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp proposes issue of $500 million 4.125 pct. bonds due 2019
Thursday, 25 Sep 2014 08:15pm EDT 

Semiconductor Manufacturing International Corp:Says that on Sept. 25 2014, SMIC and the Joint Lead Managers (Deutsche Bank and J.P. Morgan) entered into the Bond Subscription Agreement.Says pursuant to agreement each of the Joint Lead Managers has agreed to subscribe and pay for, or to procure subscribers to subscribe and pay for the Bonds to be issued by the company in an aggregate principal amount of $500 million.The gross proceeds from the issue of the Bonds will be about $494.82 million.The net proceeds (net of fees, commissions and expenses) from the issue of the Bonds will be $491 million.The Company intends to use the net proceeds (net of fees, commissions and expenses) from the issue of the Bonds for the debt repayment.Used for capital expenditure in relation to capacity expansion associated with 8-inch and 12-inch manufacturing facilities and general corporate purposes.  Full Article

Semiconductor Manufacturing International Corp announces proposed issue of bonds
Tuesday, 16 Sep 2014 08:03pm EDT 

Semiconductor Manufacturing International Corp:Proposes to conduct international offering of bonds to professional investors only.Bonds will only be offered and sold in an institutional offering in the United States in reliance on Rule 144A and outside the United States in reliance on Regulation S.Deutsche Bank and J.P. Morgan are joint lead managers in connection with issue of bonds.Pricing of bonds, including aggregate principal amount, offer price and interest rate, will be determined through book building exercise to be coordinated by joint lead managers.As at the date of this announcement, principal amount, interest and other terms and conditions of proposed bonds issue have yet to be determined.Upon finalisation of terms of proposed bonds issue, the company and joint lead managers are expected to enter into subscription agreement and other ancillary documents in relation to proposed bonds issue.Intends to use net proceeds for (i) the company's debt repayment, and (ii) capital expenditure in relation to capacity expansion associated with 8-inch and 12-inch manufacturing facilities and general corporate purposes.  Full Article

Semiconductor Manufacturing International Corp does not recommend dividend
Thursday, 28 Aug 2014 07:41am EDT 

Semiconductor Manufacturing International Corp:No dividend has been paid or declared by the company during the six months ended June 30, 2014 and 2013, respectively.  Full Article

Semiconductor Manufacturing International Corp and JCET establish joint venture in Jiangyin National High-Tech Industrial Development Zone
Friday, 8 Aug 2014 04:00am EDT 

Semiconductor Manufacturing International Corp:Says Semiconductor Manufacturing International Corporation (SMIC) and Jiangsu Changjiang Electronics Technology Co., Ltd. (JCET) jointly announces formation of joint venture.Says for 12-inch bumping and related testing, from previously signed joint venture agreement, which will be established in Jiangyin National High-Tech Industrial Development Zone (JOIND), in Jiangsu Province, China.By setting up in Jiangyin National High-Tech Industrial Development Zone, the joint venture can benefit from Jiangyin's location and mature industrial environment to quickly set up 12-inch wafer bumping and CP testing production line (Middle-End-Of-Line).Joint venture can also utilize JCET's nearby advanced back-end packaging production line, which includes Flip-Chip to support advanced Back-End-Of-Line production for 40/45nm, 28nm and below.Together with SMIC's 12-inch front-end advanced chip production line in development, this will be China's first-ever domestic 12-inch advanced IC manufacturing supply chain.This supply chain will shorten the overall manufacturing cycle time.More importantly, its close proximity to China's consumer electronic industry and end-market, will allow customers to respond with a shorter time-to-market window, and therefore better serve the fast changing consumer electronic market.  Full Article

Semiconductor Manufacturing International Corp gives Q3 2014 revenue outlook below analysts' estimates
Wednesday, 6 Aug 2014 07:43am EDT 

Semiconductor Manufacturing International Corp:Expects Q3 2014 revenue to increase 1- 5 pct quarter over quarter.Reported revenue of $511.3 mln in Q2 2014.Q3 2014 revenue of $569.8 mln - Thomson Reuters I/B/E/S.  Full Article

Semiconductor Manufacturing International Corp announces completion of placing of existing shares and subscription of new shares
Thursday, 12 Jun 2014 08:52am EDT 

Semiconductor Manufacturing International Corp:Completes Placing on June 09, 2014 and completion of Subscription took place on June 12, 2014.Pursuant to terms and conditions of Placing and Subscription Agreement, total of 2,590,000,000 Sale Shares were successfully placed by Joint Placing Agents to not fewer than six independent Placees.Says Placees are third parties independent of and not connected with Company and its connected persons, at placing price of HK$0.60 per Sale Share.Company allotted and issued 2,590,000,000 Subscription Shares, representing about 7.44 pct of issued share capital of Company as enlarged by issue of 2,590,000,000 new Shares, to Vendor at price of HK$0.60 per Subscription Share.  Full Article

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