Archie's Corner

[EZ2]

TSM news.............
Tuesday December 25, 9:11 pm Eastern Time
TSMC says to increase U.S.-traded shares

TAIPEI, Dec 26 (Reuters) - Taiwan Semiconductor Manufacturing Co (TSMC) (NYSE:TSM - news) plans to increase the proportion of its shares traded in the United States to 15-25 percent of shares outstanding from 7.2 percent, a newspaper said on Wednesday.

Chief Financial Officer Harvey Chang told the Commercial Times in an interview the firm was becoming more internationalised and the move would bring its share structure in line with major companies like Nokia (NYSE:NOK - news).

Chang told the local newspaper TSMC, the world's largest contract chipmaker, would consider the market's appetite for its New York-listed American Depository Receipts and issue shares gradually.

He did not say if TSMC planned to issue new ADRs, or convert Taiwan-listed common shares into U.S. shares, and gave no timetable for the plan.

Chang also said TSMC's revenues could grow by double digits from the fourth quarter of this year to the first quarter of next, possibly by more than the 10 percent estimate made at the end of October.

By 0207 GMT, TSMC's common shares were down T$1.00, or 1.2 percent, at T$82.50, outstripping a 0.06 percent decline in the Taiwan stock exchange's TAIEX (^TWII - news) index.

Philips Electronics of the Netherlands is one of TSMC's largest shareholders.