The shares are valued at approximately US$1.5 billion. The sale was carried out as part of a TSMC share repurchase program, which was initiated by TSMC last autumn. The sale of these shares will provide the company with approximately 980 million Euros. Following the sale, Philips now holds about 1.3 billion, or 5%, of TSMC issued shares, worth approximately EUR 1.7 billion at current market prices for TSMC shares.