TSMC plans to sell 152 million shares in chipmaker Vanguard

TAIPEI, May 15 : TSMC, the world’s largest contract chipmaker, said on Friday it plans to sell up to 152 million shares in Vanguard International Semiconductor through a block trade to financial institutional investors, reducing its stake in the chipmaker.

TSMC said the proposed share sale would reduce its holding in Vanguard International Semiconductor, or VIS, to about 19 per cent from around 27.1 per cent on a fully diluted basis. The company said it had no plans to sell additional VIS shares in the foreseeable future.