Shares of China's biggest chipmaker SMIC surge nearly 202% in Shanghai debut

#China #IPO - SMIC, China’s biggest chipmaker, saw its shares surge 245% at the open on its first day of trade in Shanghai. SMIC issued 1,685,620,000 shares at 27.46 yuan per share, raising 46.28 billion yuan ($6.62 billion). Shares were trading at 95 yuan at the open. SMIC is seen as a key player in China’s ambition to boost its domestic semiconductor industry. (CNBC)


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