CSMC Technologies Corp, a mainland chip foundry based in Wuxi, Jiangsu province, announced that it expects to raise about US$200 million through a Hong Kong-based initial public offering (IPO) in April.
CSMC said that it plans to use proceeds from the IPO to fund expansion, including construction of a US$1 billion eight-inch wafer plant, also located in Wuxi. The 30,000 wafer-per-month plant is scheduled for completion in 2007.
Singapore-based Chartered Semiconductor and China Resources Logic both have stakes in CSMC. CSMC had planned to list earlier, but the IPO was pushed back by Taiwan Semiconductor Manufacturing Co (TSMC)'s recent lawsuit against the company. TSMC accused SMIC of patent infringement and stealing trade secrets.