Taiwan Semiconductor Manufacturing Co (TSMC) sold its remaining stake in chip designer Arm Holdings. A company filing on Wednesday confirmed the divestment.
Subsidiary TSMC Partners sold 1.11 million shares between April 28 and April 29. The transaction totaled approximately $231 million.
TSMC no longer holds any shares in the company. The chipmaker originally acquired a $100 million stake during Arm's 2023 initial public offering. The disclosure followed a 7.98% decline in Arm's share price during Tuesday's trading session.