Chipmaker SMIC plans biggest China’s IPO in a decade

Shanghai: China’s largest chipmaker, Semiconductor Manufacturing International Corporation, is planning to raise as much as $7.5 billion in a Shanghai stock listing that would be the country’s biggest in a decade.

Details of the planned offers were released in a statement filed Monday on the website of the Shanghai exchange and sent the company’s Hong Kong-listed stock soaring more than 20 percent to a record high.