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TSMC sells HK$78.3 mln of shares in SMIC

Sep. 25, 2012 (China Knowledge) - Taiwan Semiconductor Manufacturing Co or TSMC, the world's largest contract chipmaker by revenue, has announced that it sold HK$78.3 million worth of shares in Semiconductor Manufacturing International Corp or SMIC<0981>, China's largest chipmaker.

According to a statement, the Taiwan-based company sold 269.2 million shares in SMIC at a price of HK$0.29 apiece.

This is part of the measures that TSMC deals with its non-core assets, said the company. After the share sales, TSMC realized HK$9.7 million or US$1.2 million in profit.

TSMC earlier announced that its unconsolidated revenue grew 32% YoY to NT$48.9 billion in August this year, China Knowledge reported earlier.

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