TSMC holders to sell $1.5 bln in stock--filing
Tue Jul 5, 2005 08:27 AM ET
WASHINGTON, July 5 (Reuters) - Taiwan Semiconductor Manufacturing Company Ltd. (TSM.N: Quote, Profile, Research) (2330.TW: Quote, Profile, Research) , the world's top contract microchip maker, filed with U.S. regulators on Tuesday for its stockholders to sell up to $1.5 billion in American depositary shares.
The Hsinchu, Taiwan-based company said in a filing with the U.S. Securities and Exchange Commission that it will not receive any of the proceeds from the stock sale.
The list of selling shareholders includes Philips (PHG.AS: Quote, Profile, Research) , which owned 19 percent of TSMC's outstanding stock as of March 31. The filing did not reveal how many shares Philips intends to sell, as that detail will likely be disclosed in future filings.
Other sellers include The Development Fund, Chairman Morris Chang and Vice Chairman F.C. Tseng.
Each ADS represents five common shares. Goldman Sachs International and JPMorgan are underwriting the offering.
ADSs of TSMC closed at $9.18 per ADS on Friday on the New York Stock Exchange. |
