TSMC management stated that they are very confident with VIS* future development. In order to strengthen the relationship with VIS for long term investment, TSMC will purchase 70,000,000 shares of the common stocks of VIS from Walsin Development Co. at the price of NT$15 per share. The NT$1,050,000,000 deal will be settled by September 20, 1996.
TSMC currently holds 23.63% of the outstanding shares of VIS. After the purchase of 70,000,000 shares, TSMC's shareholding in VIS will amount to 27.52%.