Friday, November 19, 2004
The Taiwanese government may sell 770 million shares in leading foundry chip maker Taiwan Semiconductor Manufacturing Co. Ltd. during 2005 as part of plans to reduce the country's budget deficit and record national debt, according to Taipei Times.
The Development Fund, which holds 7.4 percent of TSMC's shares for the government, had previously announced plans to sell 130 million shares next year, the report said, making for an effective rise of 640 million shares being put up for sale. The report did not indicate what fraction of the holding 770 million shares represents.
"Under the regulations, the fund can cancel or roll over to next year all or part of 640 million Taiwan Semiconductor shares which have been budgeted on this year's sales list," the report quotded Lai Ching-chyi the fund's executive secretary, said Wednesday (Nov. 17). However the report also quoted Lai as saying no decision has been made on whether the fund will roll over or cancel the 640 million shares, Lai said.
"We will have a meeting and a discussion with the company before making any decision by the end of the year," Lai was quoted as saying.
By: DocMemory
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