Home
Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and solar cell manufacturer Motech Industries Inc.
have signed a share subscription agreement under which TSMC will
subscribe through a private placement for 75.32 million new Motech
shares.
The total consideration is approximately NT$6.2 billion
($193 million), or NT$82.7 per share, representing a 16.9% discount to
Motech's three-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.
"With the investment, TSMC
intends to leverage Motech’s established platform to accelerate our
time to market, better evaluate opportunities along the solar value
chain, and further formulate our overall solar strategy," states Dr.
Rick Tsai, president of TSMC new businesses.
