Friday, May 24, 2019

China's Semiconductor Manufacturing International leaves NYSE

Citing low trading volume, Shanghai-based Semiconductor Manufacturing International Corporation (SMIC) notified the New York Stock Exchange of its intend to delist its  American depositary shares (NYSE: SMI).  The delisting of the ADSs from the NYSE is expected to become effective around June 13, 2019.

SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 28 nanometer. It is the largest foundry company in mainland China by scale. SMIC has a 300mm wafer fabrication facility (fab) and a 200mm fab in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin; additionally, in Italy SMIC has a majority-owned 200mm fab.