TSMC sells 5% of Vanguard
Morris Chang, Chairman of TSMC
TSMC is to sell 5% of its holding in the Taiwanese foundry Vanguard International Semiconductor.
The sale will raise $116 million.
TSMC owns 38% of 20 year-old Vanguard which started off as a DRAM company and became a pure-play foundry ten years ago.
TSMC is thought to be selling because the foundry business is booming in Taiwan and it’s a good time to sell.
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