SMIC: right time, right place?

After one of the fastest ramp-ups in history, Chinese foundry SMIC positions its IPO valuation second only to TSMC.

Semiconductor Manufacturing International Company SMIC has set out with one of the richest valuation targets of a China listing in recent years, but tech specialists believe it may be achievable thanks to the $1.5 billion IPO's fortuitous market timing.

With a syndicate consensus price to book range of 2 to 2.5 times post deal or 2.5 to 3 times pre deal, SMIC will rank second only to global leader TSMC, which was trading at 3.2 times...

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