August 6, 2014 / 8:31 AM / 3 years ago

Taiwan govt plans to sell $2.15 bln of shares next year

TAIPEI, Aug 6 (Reuters) - Taiwan’s government said on Wednesday it plans to sell shares worth T$64.6 billion ($2.15 billion) from its portfolios next year, 70 percent more than in 2014, to help repay debt.

The plan comes after the cabinet agreed on a budget that would result in an deficit of T$152.2 billion for 2015.

An official of the government’s National Development Fund, a major stakeholder in the world’s top contract chip maker TSMC , declined to say whether TSMC was on the list.

TSMC is among the Asian shares which are most popular with foreign investors.

The plan is subject to approval from the legislature later this year.

The government wants to raise T$38 billion from stock sales in 2014, including TSMC, Chunghwa Telecome. Mega Financial and China Steel.

Reporting by Jeanny Kao; Writing by Faith Hung; Editing by Kim Coghill

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