TSMC Unit Sells Empower Semiconductor Preferred Shares for $22 Million

Taiwan Semiconductor Manufacturing (TPE:2330) unit Emerging Fund has disposed of 867,573 preferred shares in Empower Semiconductor for $22 million, according to a Wednesday Taiwan Exchange filing. Shares slid over 1% in Thursday's midday trade. The stake was sold as part of U.S. firm Analog Devices's acquisition of Empower. TSMC said the transaction will increase retained earnings by $17 million but will have no impact on net income.