VIS Hits Limit Down After TSMC Discloses 152 Million-Share Sale at NT$24.41 Billion
Taiwan Semiconductor Manufacturing Co. said it raised NT$24.41 billion from the sale of 152 million shares in affiliate Vanguard International Semiconductor at NT$160.6 apiece, and VIS shares fell by their daily market limit to NT$159 on Monday after the disposal became public. TSMC said it still owns 3.55 billion VIS shares, or about 19% of the company.
The disclosure adds detail to a transaction that had previously been reported at about NT$26.8 billion. The VIS sale also follows another recent holding reduction after TSMC Partners sold 1.11 million Arm shares for about $231 million in April, a series of disposals that Taiwan media have linked to higher capital-spending needs as competition from Intel and Samsung increases.
From the sources (2 posts)
@dnystedtTaiwan media note rising competition from Intel and Samsung is pushing TSMC to raise capital spending, with one sign: TSMC has been selling down its shareholdings: TSMC Partners (subsidiary), in April sold 1.11 million Arm for about US$231
@dnystedtTSMC said it took in NT$24.41 billion from the sale of 152 million shares in affiliate Vanguard International Semiconductor (VIS), which were sold at NT$160.6 per share, media report. VIS shares fell by their daily market limit on Monday on