SMIC International (688981.SH) subsidiary intends to sell 14.832% equity of SMIC Ningbo to Guoke Micro (300672.SZ)

Zhitong Finance APP News, Semiconductor Manufacturing International Corporation (688981.SH) announced that its wholly-owned subsidiary, Semiconductor Manufacturing International Holdings Limited (referred to as "SMIC Holdings"), intends to sell 14.832% of the equity in Semiconductor Manufacturing International (Ningbo) Co., Ltd. (referred to as "SMIC Ningbo") held by it to NationalChip (300672.SZ). After the completion of this transaction, SMIC Holdings will no longer hold any equity in SMIC Ningbo. The issuance price of the consideration shares is determined through negotiation among the parties as 57.01 RMB per share. This transaction is beneficial for the company to focus on its core business.