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Technology Stocks : Taiwan Semiconductor (NYSE: TSM) -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (487)	5/12/1999 11:00:00 AM
From: tom	Respond to of 684

I guess that's what Morris Chang, Capital and the Taiwanese government think but not everyone can do that. You have to have held more than 1m local shares for more than 1 year to be allowed to convert which restricts the procedure to large funds.

To: Sun Tzu who wrote (487)	5/12/1999 5:34:00 PM
From: kas1	Read Replies (1) \| Respond to of 684

> Even if i want to maintain a large equity position in > the company, why would I not sell all my holdings as an > ADR at a 50% premium and buy them back at the local market? well.... why don't you? unless you are an roc citizen, i estimate you will find it darn near impossible. also, the nominal number of shares one holds doesn't really matter -- i doubt that any of us are interested in cash dividends or voting rights. dollar-for-dollar, tsm and tsmc are the same thing.