No plans to go public on China bourse: TSMC

Focus Taiwan
Date; 2016/07/13
By: C.C. Chang and Flor Wang

Taipei, July 13 (CNA) Taiwan Semiconductor Manufacturing Corp. (TSMC), the world’s largest contract chip maker, on Wednesday denied reports that it was considering going public on China’s stock market.

The company made the statement in response to a front page report in a local daily, which cited a Chinese official as saying Tuesday that Taiwan-based hi-tech companies such as TSMC and MediaTek were being encouraged to list on China’s stock market.

“Silicon foundry is not just a foundry business. Rather, it has very great influence,” Chen Deming (陳德銘), president of the China-based Association for Relations Across the Taiwan Straits (ARATS), was quoted as saying.

“If related IC companies based in Taiwan are willing to go public on China’s stock market, they will get full support from the mainland’s central authorities,” Chen said on the sidelines of two exhibitions being held by the Taiwan Electrical and Electronic Manufacturers’ Association in Kunshan, Jiangsu Province.     [FULL  STORY]