TSMC in record breaking equity deal

Taiwan Development Fund and Philips work together for first time to bring TSMC''s largest equity deal to date.

Founding shareholders, Royal Philips Electronics NV and the Taiwan Development Fund, raised $1.304 billion selling a 3.1% stake in TSMC after Thursday's close in New York. Under the lead management of Goldman Sachs and JPMorgan, the two sold 151.655 million ADR units at $8.60 each. There is also a 22.745 million greenshoe that could bump total deal proceeds up to $1.499 billion.

At $8.60 per unit, the deal was priced at a 0.6% discount to...

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