Philips will sell $1.75 billion worth of TSMC shares to financial investors based in Taiwan. Another $2.5 billion worth of stock will be placed through a public offering of American Depositary Shares within calendar 2007. A third tranche of around $1.5 billion will be tendered by Philips in a share repurchase via tender offer which TSMC intends to launch in 2007.
TSMC will launch further share repurchase programmes between 2008 and 2010 and...
¬ Haymarket Media Limited. All rights reserved.