TSMC to reduce stake in Vanguard International Semiconductor

Investing.com -- Taiwan Semiconductor Manufacturing Co announced Friday it will sell up to 152 million shares in Vanguard International Semiconductor through a block trade to financial institutional investors.

The world's largest contract chipmaker said the proposed share sale would reduce its holding in VIS to approximately 19% from around 27.1% on a fully diluted basis. The transaction represents about 8.1% of Vanguard's fully diluted paid-in capital.

TSMC stated it has no plans to sell additional VIS shares in the foreseeable future following this transaction.

You May Also Be Interested In

• Tesla Crash Into Texas Home Now Under Federal Safety Probe - WSJ
• Eledon Pharamceuticals (ELDN) PT Raised to $7 at Leerink
• Lockheed Martin wins $83 million Army missile contract