TAIPEI (XFN-ASIA) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC)
(2330.TW) said a multi-phased plan, announced in March last year, for Philips to
divest its stake in TSMC "has come to an orderly and successful conclusion."
Philips today sold all its remaining TSMC common shares through a block
trade to long-term financial investors mutually agreed by Philips and TSMC,
according to a TSMC statement.
"This block trade does not alter TSMC's stock buyback program which started
on August 13," said Lora Ho, TSMC's vice-president and chief financial officer.
"We reiterate our commitment to maintaining our current annual cash dividend
per share or steadily increase the amount," she added in a statement.
TSMC, the world's leading wafer foundry, did not give details of the Philips
sale deal nor the financial investors involved.
TSMC announced earlier this week a plan to buy back up to 16.50 bln twd, or
about 542 mln usd, worth of stock from the open market for cancellation.
The company's board had approved a repurchase of as many as 283 mln shares,
or 1.08 pct of shares outstanding, at 42.85 twd-86.20 twd per share between Aug
13 and Oct 12.
In today's trade, TSMC shares closed down 0.70 twd or 1.14 pct at 60.50.
(1 usd = 31.30 twd)
adela.lin@afxasia.com
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xfnal/xfnrc
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