Citibank Depositary Receipt Services Announces New Offering with Taiwan Semiconductor Manufacturing Company

Strategic Insights -

Citibank Depositary Receipt Services has announced that Taiwan Semiconductor Manufacturing Company (TSMC) is offering an additional 28,500,000 American Depositary Shares (ADSs) to the U.S. investor market. TSMC, the world's largest dedicated semiconductor foundry, is making this move to increase its visibility and accessibility to U.S. investors. The ADSs, which represent five ordinary shares, will trade on the New York Stock Exchange (NYSE) under the symbol TSM.

This new offering is a significant milestone for TSMC, as it seeks to expand its global presence and diversify its investor base. With this move, TSMC becomes the latest high-profile company to choose Citibank Depositary Receipt Services for its ADR program. Citibank's expertise in depositary receipt services has been instrumental in bringing quality issuers like TSMC to the U.S. market.

Key Takeaways:

  • Taiwan Semiconductor Manufacturing Company (TSMC) is offering 28,500,000 additional American Depositary Shares (ADSs) to the U.S. investor market.
  • Each ADS represents five ordinary shares and will trade on the New York Stock Exchange under the symbol TSM.
  • TSMC is the world's largest dedicated semiconductor foundry, with a revenue market share of approximately 33% among foundries worldwide in 1999.
  • The new ADSs will trade under the temporary symbol TSM.PR (CUSIP No. 874039209) for three months, after which they will be folded into the permanent NYSE listed program under the symbol TSM.
  • Citibank Depositary Receipt Services has led the market in bringing quality issuers to market and promoting ADRs as an effective capital markets tool since its inception in 1928.
  • The company offers a comprehensive range of leading-edge wafer fabrication processes, including processes to manufacture CMOS logic, mixed-signal, volatile and non-volatile memory, and BiCMOS chips.
  • TSMC's ADSs are backed by a strong company with a successful track record in the semiconductor industry.
  • The listing of TSMC ADSs on the NYSE is expected to increase visibility and accessibility to U.S. investors and further diversify the company's investor base.

Statistics:

  • TSMC's revenue market share among foundries worldwide was approximately 33% in 1999 (International Data Corp.).
  • Citibank Depositary Receipt Services has brought quality issuers to market since its inception in 1928.
  • Citibank Depositary Receipt Services has $3.9 trillion in assets under custody (as of the current fiscal year).
  • The company provides securities services to more than 2,500 customers worldwide.
  • Citibank is the market leader in depositary receipt services, widely recognized for delivering high-quality, highly liquid programs to its customers.

Sources:

  • Business Editors, NEW YORK--(BUSINESS WIRE)--June 7, 2000
  • Citibank Depositary Receipt Services
  • Taiwan Semiconductor Manufacturing Company (TSMC)
  • International Data Corp.
  • Citibank Worldwide Securities Services (WWSS)
  • Citigroup (NYSE:C)
  • www.citibank.com/adr