China’s Big Fund becomes SMIC’s third-largest shareholder after record Star Market buyout (opens original article in a new tab)

China's state-backed Big Fund became SMIC's third-largest shareholder following a major acquisition of SMNC, aimed at boosting production capacity and strategic benefits.

• China's Big Fund became SMIC's third-largest shareholder after acquiring 49% of SMNC.
• The deal involved SMIC issuing 547 million shares worth 40.6 billion yuan to five shareholders of SMNC.
• The acquisition aims to address SMIC's production capacity shortage and enhance strategic benefits.