TSMC Unit to Issue $10 Billion of Stock to Counter Forex Swings
Taiwan Semiconductor Manufacturing Co. 's overseas unit is set to issue $10 billion worth of new stock to shore up its forex hedging operations, making its biggest such move to counter a volatile local currency.
TSMC Global Ltd. is poised to issue the shares to help it hedge against forex swings, the company said in a statement. It's the third such deal since 2024, and by far the largest. They occurred during periods when the Taiwan dollar tended to appreciate. The moves grant TSMC Global — the vehicle responsible for managing overseas investments and hedging — more capital flexibility in managing exchange rate risks.
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