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Technology Stocks : Taiwan Semiconductors (TSMC)
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To: battle beast who wrote (11)10/9/1997 9:42:00 AM
From: .com   of 26
 
One last bit of info:

Wednesday October 8 10:25 PM EDT

Taiwan Semicon up on listing ADRs in NY

TAIPEI, Oct 9 (Reuter) - Taiwan's microchip giant Taiwan Semiconductor Manufacturing Co (2330.TW) surged in early Thursday trade after it
launched American Depositary Receipts on the New York Stock Exchange overnight.

After 55 minutes at 0155 GMT, Taiwan Semicon up T$5.5, or 3.89 percent, to T$147.
Taiwan Semicon said on Thursday it was the first Taiwan company to list on the NYSE. Its ADR, Taiwan Semicon (TSM), surged to
US$26.125 from US$24.78 overnight. Since each ADR unit represents five Taiwan Semicon shares, its NYSE closing price equals T$149.
Brokers say Taiwan Semicon has more room to rise.
Michael Hung, independent analyst: ''Taiwan Semicon can be regarded as Taiwan's first world-class company and the island's most successful
high-technology firm so far.''
Hung: ''Taiwan Semicon should soon test its 1997 peak of T$173, and with its growth potential, I believe its price may surge to T$300 in
1998.''
Brokers estimate Taiwan Semicon's earnings per share at T$4.5 in 1997 and T$7.0-7.5 in 1998.
Taiwan Semicon said in April it would build six advanced wafer-fabrication plants as part of a T$400 billion investment in southern Taiwan's
Tainan science-based industrial park over a 10-year span.
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