TAIPEI (Taiwan News) — TSMC said Friday it plans to sell up to 152 million shares in Vanguard International Semiconductor via a block trade to institutional investors, Reuters reported.
The sale, worth around NT$26.9 billion (US$850 million) at current prices, would cut TSMC’s stake in VIS from about 27.1% to 19% on a fully diluted basis. TSMC said it has no plans to sell additional shares in the foreseeable future.
The company said the move is part of its plan to focus resources on core business activities, per CNA. It added that the sale would not affect its relationship with VIS, including outsourcing interposer production and licensing gallium nitride technology to the firm.
TSMC ceased to have representation on VIS’ board of directors in June 2024. The two companies have maintained a close working relationship despite the reduced ties.
VIS, which trades on the Taipei Exchange, specializes in mature-node chips used in automobiles and consumer electronics.
