Semiconductor Manufacturing International (HKG:0981, SHA:688981), or SMIC, agreed to acquire an additional 49% equity stake in Semiconductor Manufacturing North China (Beijing) from multiple vendors, a Monday Hong Kong bourse filing said.

The consideration, which is subject to audit and negotiation between the parties, will be settled through the issue of shares in the semiconductor company.

Semiconductor Manufacturing North China (Beijing) mainly provides 12-inch integrated circuit wafer foundry and supporting services.

SMIC currently owns a 51% interest in the target firm through three units. The acquisition of the remaining stake will improve the firm's asset quality, strengthen business synergies, and boost development.