CSMC launches pre-marketing

Chinese foundry hopes earnings consistency will win over investors despite poor market conditions.

CSMC Technologies began pre-marketing an IPO on Monday May10 via lead manager Citigroup, with DBS and UBS as co-leads. The all new share deal is scheduled to price towards the beginning of June, raising up to $100 million including the greenshoe.

Because the company has fixed the exact amount it hopes to raise from the flotation, the percentage of share capital it issues will be subject to the valuation it can achieve. Fund managers say...

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