TSMC yesterday held a meeting of the Board of Directors, which approved capital appropriations of approximately US$3,790.4 million for expansion of advanced technology capacity, and conversion of certain logic capacity to specialty technologies. And fourth quarter 2016 R&D capital investments and sustaining capital expenditures.

In addition, to simplify investment structure, the board also approved TSMC’s acquisition from VisEra Holding Company of 86.9% shareholding in VisEra Technologies Company Ltd. at the book value, and 6.9% shareholding in Xintec Inc. at the market price.

As a result, VisEra Holding Company will be dissolved and merged into TSMC Partners, Ltd., which is 100% owned by TSMC. After the transaction, TSMC will own 86.9% of VisEra Technologies Company Ltd. and 41.3% of Xintec Inc. directly, which are the same as what TSMC has held directly and indirectly prior to this transaction.