Taiwan Semiconductor Manufacturing Company Limited (TSM) or TSMC and Motech Industries Inc. jointly announced the signing of a share subscription agreement, by which TSMC will subscribe through a private placement for 75.32 million new Motech shares. The total consideration is about NT$6.2 billion or US$193 million, or NT$82.7 per share, representing a 16.9% discount to Motech's 3-month average closing price. TSMC will become the largest shareholder of Motech with 20% shareholding through this investment. The transaction is subject to Motech's shareholders' approval and regulatory approval.
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