BEIJING, March 27 (InfoChina) - Semiconductor Manufacturing International Corporation (SMIC, NYSE: SMI, HK: 0981) reportedly has invited two investment banks to help look for strategic investors.
But the company has not confirmed this.
Anyway, a company spokesman confirmed SMIC has engaged Morgan Stanley and Deutsche Bank as its financial advisors to provide advices on the company’s routine investments, according to media reports.
Although SMIC did not confirm the hearsay, insiders still believe in its very possibility.
Meanwhile, spokesman of SMIC in Hong Kong also denied the possibility for SMIC to seek investment for business expansion, saying SMIC has abundant cash to afford capital expenditure.
Analysts say competitive pressure from Taiwan Semiconductor Manufacturing Company Limited (TSMC) may be another reason for SMIC to make capital operation. TSMC reportedly has been approved to introduce advanced 8-inch 0.18 micron technology to the Chinese mainland. Under the circumstance, SMIC must prepare for greater challenges from TSMC. (Edited by Yang Liu,
)
China Stock News 
