Taiwan government raises $320 million from TSMC ADR

Goldman Sachs secures the deal after pitching its winning bid at an aggressive discount to close.

The US investment bank re-gained its stranglehold over business in TSMC's name last night Tuesday winning an auction to place out 20 million ADR's for Taiwan's National Development Fund. In doing so, it is believed to have beaten four other banks comprising Deutsche Bank, Merrill Lynch, Salomon Smith Barney and UBS Warburg.

Even though the deal was in the name of the government, winning will have been extremely important to Goldman given its close relationship with TSMC,...

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