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Technology Stocks : Semi Equipment Analysis

SOXX 289.38

-3.4%

Nov 13 4:00 PM EST

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To: The Ox who wrote (1490)	12/26/2001 12:06:34 AM
From: The Ox	Read Replies (1) of 95415

TSMC Plans to Double Ratio of ADRs Vs Outstanding Shares Gradually TAIPEI, Dec 26 (AFX-ASIA) - Taiwan Semiconductor Manufacturing Co Ltd said it plans to double the ratio of American Depository Receipts available in the market against its outstanding shares from the current 7.2 pct. The ADRs issued by major international companies such as Nokia Corp already account for 15-25 pct of their outstanding shares, TSMC senior vice president Harvey Chang was quoted by the Commercial Times as saying. The company would phase in such a planned ADR expansion gradually so as to prevent an excessive impact on the market, he said, adding whether such a move would further narrow the premium between the ADRs and common shares should be left to the market. Separately, Chang said given the current order visibility TSMC is even more optimistic about its earlier forecast of sales in the first quarter of 2002 rising 10 pct from the current quarter. While already brisk demand of TSMC's high-end capacity on 0.18-0.15 micron technology is set to pick up further, there has been a recovery in order inflows calling for 0.25 micron technology as well, he added.

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