The Taiwan government is seeking to raise US$310.2 million at Friday's prices by selling US shares of Taiwan Semiconductor Manufac-turing Co (TSMC, 台積電 ), a statement filed with the US Securities & Exchange Commission said.
The Taiwan Development Fund, a government-owned fund that invests mostly in technology companies, plans to sell 14 million shares of the world's largest made to order chipmaker through Merrill Lynch & Co.
TSMC's shares in the US fell US$0.14, or around 0.6 percent, to US$22.16 on Friday.
The government is taking steps to sell its equity investments in order to plug a budget deficit expected to reach NT$195 billion (US$5.7 billion) this year.
Taiwan is also offering 480 million shares in the state-owned telephone company, Chunghwa Telecom Ltd (中華電信), for half-hour periods on weekdays until June 20. Chunghwa is the largest phone company in Taiwan.
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