With the approval of the China Securities Regulatory Commission, A-share listed company JIANGSU CHANGJIANG ELECTRONICS TECHNOLOGY CO., LTD issued shares to National Integrated Circuit Industry Investment Fund Co. LTD to buy a 29.41% equity stake in JIANGSU CHANGJIANG ELECTRONICS TECHNOLOGY CO., LTD ("Changsha Shinco") and 22.73% of equity and issuing shares to Core Semiconductor (Shanghai) Co. Ltd ("Core Semiconductor"). Semiconductor Manufacturing International Corporation;(Its share and American depositary shares have been listed on the Hong Kong Stock Exchange Main Board and The New York Stock Exchange) issued shares to buy a 19.61% equity holding and also non-public shares to collect a matching fund of no more than 26.55 billion Yuan("This transaction").
The approval of this transaction involving Changsha Shinco means that the company has accomplished the cross-border acquisition of STATS ChipPAC Ltd.("STATS ChipPAC"), the world's leading chip packaging plant formerly listed in Singapore. After the transaction was completed, Core Semiconductor became the largest shareholder of Changsha Shinco with holding 100% of the shares, and acquired 100% of equity from STATS ChipPAC indirectly.
Recently, the underlying asset involved in this transaction has successfully undergone the business change registration. The matching fund, securities issuance and registration is completed.
As legal counsel of Changsha Shinco, Llinks provided a full range of legal services for this transaction.
