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TSMC to Sell 5.1% of Xintec Inc.
TSMC obtained a 10.2% share in Xintec via a purchase of OmniVision - but now the company is planning to sell 5.1% of it.
The Taiwanese company obtained 10.2% Xintec ownership from its purchase of OmniVision Technologies, Inc.’s 49.1% ownership in VisEra Holding Cayman.
Of the 10.2% Xintec ownership, 5.1% was sold on November 30, 2015. The remaining 5.1% to be sold was released from the IPO lock-ups on March 30, 2016.
After the Xintec shares sales, TSMC will remain as the largest shareholder of Xintec with approximately 41% ownership. The company says that it has no further plans to sell more Xintec shares in the foreseeable future. TSMC expects to continue its close collaboration with Xintec in the business areas of CMOS image sensor, MEMS, and etc.
