TSMC Plans 8.1% Vanguard International Semiconductor Stake Sale, Cuts Holding to 19%
TSMC, the world's largest contract chipmaker, said Friday it plans to sell up to 152 million shares, or 8.1%, of affiliate Vanguard International Semiconductor in a block trade to institutional investors. The sale would reduce TSMC's holding in VIS to 19% from 27.1%. Based on VIS's Friday close of NT$176.5 in Taiwan, the stake is worth about NT$26.8 billion ($850 million).
TSMC said the transaction is intended to focus resources on core business activities and will not affect its strategic relationship with VIS, including outsourcing of interposer production and licensing of GaN technology.
From the sources (3 posts)
@dnystedtTSMC plans to sell up to 152 million shares, or 8.1%, of affiliate Vanguard International Semiconductor (VIS) in a block trade to institutional investors, the chip giant said, adding, “the proposed share sale will not affect TSMC’s strategi
@dnystedtVIS shares ended traded Friday in Taiwan at NT$176.5 per share, or NT$26.8 billion (US$850 million) for the 152 million share block, though buyers often receive a discount of 3%-5% in block trades.
@reuterschinaTSMC , the world's largest contract chipmaker, said on Friday it plans to sell up to 152 million shares in Vanguard International Semiconductor via a block trade to financial institutional investors, cutting its stake in the chipmaker. http