Recently, market rumors have stated that Taiwan-based solar firm Motech may experience changes at the executive level because the firm's biggest shareholder, Taiwan Semiconductor Manufacturing Company (TSMC), may sell its shares once the ban period expires in March. The rumors stated that PH Chang, president and CEO of Motech, may be reassigned. However, Motech has denied the rumors.
TSMC bought Motech shares at NT$82.7/share (US$2.93/share) in December 2009 through a private placement. With 20% of Motech's shares, TSMC became the firm's biggest shareholder.
The oversupply problem in the solar market has been causing solar share prices to fall, and in August 2012, Motech's share price dropped to NT$28/share. Also, Morris Chang, chairman of TSMC stated in 2012 that investments in Motech will be shifted from strategic to purely financial.
According to Jack Hsieh, vice president, CFO and spokesperson of Motech, TSMC's ban period ends in March but that does not mean TSMC will sell its shares immediately. Hsieh denied the rumors regarding personnel changes.
