TSMC to sell part of VIS stake, maintain strategic ties

Taipei, May 15 (CNA) Taiwan Semiconductor Manufacturing Co. (TSMC) announced Friday that it plans to sell up to 152 million shares in Vanguard International Semiconductor Corp. (VIS), while maintaining its strategic cooperation with the company.

TSMC said the sale is expected to reduce its holdings in VIS, a leading specialty IC foundry service provider, by 8.1 percentage points from the current 27.1 percent and will be conducted through block trades to financial investment institutions.

The world's largest contract chipmaker said that the share sale plan for VIS will allow the company to focus its resources on core businesses.

TSMC noted that the share sale plan will not affect its strategic cooperation with VIS, including outsourcing silicon interposer production -- a chip packaging component -- and licensing its gallium nitride (GaN) process technology to the company.

TSMC said it has no plans to sell more of its stake in VIS in the near term.