Taiwan to sell TSMC shares for $600 mln next year -source

TAIPEI Wed Aug 7, 2013 9:46pm EDT

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TAIPEI Aug 8 (Reuters) - A Taiwan government venture capital fund will sell more than 170 million shares in TSMC , the world's top contract chip maker, in 2014 to help fund Taiwan's budget, a source with direct knowledge of the sale said on Thursday.

The National Development Fund plans to sell the shares, worth about T$18 billion ($600 million), to four pension funds owned by the government, said the source, who declined to be identified because the matter is sensitive.

TSMC shares had slipped 0.5 percent at around 0130 GMT, trailing the broader market's 0.14 percent dip. (Reporting by Jeanny Kao; Writing by Faith Hung; Editing by Paul Tait)

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