Taiwan Semiconductor in $1.3 Billion ADS Offering
August 10, 2005
Cleary Gottlieb represented Goldman Sachs, JP Morgan and the other underwriters in the sale by Koninklijke Philips N.V., the Development Fund of the Executive Yuan of the Republic of China and other shareholders of $1.3 billion of American Depositary Shares (ADS) representing common shares of Taiwan Semiconductor Manufacturing Company Limited. The underwriters have an over-allotment option to purchase up to 22.745 million additional ADS within 30 days of the closing date.
Taiwan Semiconductor is the world’s largest dedicated semiconductor foundry, and it has common shares listed on the Taiwan Stock Exchange and ADS listed on the New York Stock Exchange.