TSMC Joins ASML's Customer Co-Investment Programme For Innovation

De Brauw Blackstone Westbroek advises ASML, the world's largest supplier of equipment to computer chip manufacturers, on a customer co-investment programme. Following Intel, TSMC is the second participant to join ASML's customer co-investment programme, committing to invest EUR 276 million in ASML's research and development (R&D) over the next five years as well as EUR 838 million in a 5% equity stake in ASML's capital. Intel earlier committed to an investment in ASML's R&D and equity for an aggregate amount of EUR 3.3 billion. Another 5% of ASML's equity is still available in the programme for other customers.​

The programme is intended to have no effect on the current number of shares outstanding. Following the receipt of the subscription proceeds, ASML will effect a synthetic buy-back, consisting of a repayment to shareholders of the subscription proceeds and a reverse stock split. The shares issued through the programme will be held by a Stichting