A pedestrian walks outside the Hong Kong Stock Exchange on Monday. Photo: VCG

The stock price of Chinese chip maker Semiconductor Manufacturing International Corp (SMIC) jumped 21 percent on Monday, closing at a record high of HK$40.25 ($5.19).

SMIC had risen 14 percent to HK$37.95 ($4.90) by press time, with a market value of HK$215.68 billion.

The climb comes alongside the news that the company could raise up to 53.2 billion yuan ($7.55 billion) during a listing in Shanghai stock market. SMIC released details of the offering in a Sunday statement it made to the Shanghai Stock Exchange, and has set its sale price at 27.46 yuan per share, the according to the filing. 

SMIC is China's biggest contract manufacturer of chipsets and a major player in Beijing's vision to create a self-reliant and world-class semiconductor industry.

The company had originally sought to collect roughly 20 billion yuan. 40 percent of that figure was to be used for SMIC's 12-inch chip SN1 project, 20 percent was to go to reserve funds for the company's advanced research and development projects, and the remaining 40 percent was earmarked for supplements. Additional funds raised will be used in the construction of integrated circuit production lines of SMIC's various subsidiaries.

Investors at a road show on Monday asked SMIC Chairman and Executive Director Zhou Zixue when the company would receive an extreme ultraviolet (EUV) lithography machine, a key piece of equipment for chip making. Zhou replied that he does not comment on purchases of individual equipment and that currently, the company does not need to use EUV lithography machines for mass production and major research projects.

EUV machines are crucial technology used to make chips smaller than 7 nanometers - world-class chips. Chip makers with access to EUV machines are in leading positions in the global industry.