TSMC to Sell 152 Million Shares in Chipmaker Vanguard
TSMC announced plans to sell up to 152 million shares in Vanguard International Semiconductor through a block trade to institutional investors. The sale will reduce TSMC's stake to approximately 19 percent as the company focuses resources on its core business activities.
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Taiwan Semiconductor Manufacturing Company will sell 152 million shares of Vanguard International Semiconductor via a block trade to institutional investors. The sale reduces the stake held by the company in Taiwan from 27.1% to 19% on a fully diluted basis. The $850 million divestment occurs after the firm exited its board seat in June 2024.
