China's SMIC mandates HK/NY flotation

One of the more important equity mandates out of China in recent years draws to a conclusion.

Following bake-offs in San Francisco just over a week ago, Semiconductor Manufacturing International Corp SMIC has mandated two bookrunners for its Hong Kong and New York Stock Exchange listing. The foundry manufacturer has appointed Credit Suisse First Boston and Deutsche Bank for two of the slots and may yet appoint a third bookrunner from a shortlist, which is said to comprise Bear Stearns, Citigroup, JPMorgan, Merrill Lynch and UBS.

The deal is expected to net proceeds...

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