On Monday, Semiconductor Manufacturing International Corporation (SMIC) announced that its share issuance and asset acquisition plan had been reviewed and approved by the M&A (Mergers and Acquisitions) Review Committee of the Shanghai Stock Exchange. The committee determined that the transaction meets regulatory requirements for restructuring and information disclosure.
In a filing disclosed in late 2025, SMIC outlined its plan to issue shares to five shareholders of SMIC North, including the China Integrated Circuit Industry Investment Fund (Big Fund), to acquire their 49.00% equity stake in the subsidiary. The transaction is valued at RMB 40.601 billion ($5.9 billion), marking the largest merger and acquisition deal in China’s wafer foundry industry to date.
SMIC North, a key controlled subsidiary of SMIC, provides 12-inch wafer fabrication services across multiple process technology platforms, along with related supporting services. Following completion of the deal, SMIC will hold 100% ownership of SMIC North, making it a fully owned subsidiary of the company. [TechNode reporting]