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 2004 book at Tuesday's close At these levels, it is being pitched at a significant premium to both UMC and Singapore-based Chartered Semiconductor, which are respectively trading at 1 8 times 2004 book and 1...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222