TAIPEI, April 29 (Reuters) - Taiwan Semiconductor Manufacturing Co, the world’s largest contract chipmaker, has sold its remaining stake in Arm Holdings , according to a company filing on Wednesday.
Its subsidiary, TSMC Partners, sold 1.11 million Arm shares from April 28 to 29 at $207.65 each, for a total of about $231 million, the filing showed.
The disposal resulted in an impact on retained earnings of $174 million.
Following the transaction, TSMC no longer holds any Arm shares.
The company said the transaction was part of a disposal of an equity investment, according to the filing.
TSMC had invested about $100 million in Arm at $51 per share during the chip designer’s initial public offering in 2023, alongside several strategic investors.
It has been gradually reducing its stake, having sold 850,000 shares in 2024 at $119.47 each for about $102 million, according to filings at the time.
Arm shares fell 7.98% on Tuesday.
Reporting by Wen-Yee Lee; Editing by Thomas Derpinghaus
Source: Reuters