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During TSMC's shareholder meeting on June 3, several shareholders raised concerns about the relatively underwhelming performance of the company's local shares in comparison to the returns of American Depositary Receipts (ADRs). In response, TSMC's Chief Financial Officer, L.J. Huang, clarified that while the company has indeed evaluated the potential conversion of common stock into ADRs, they have reservations about the potential impact such a move could have on both ADR prices and local share prices. As a result, there are presently no immediate plans to proceed with the conversion. Mr. Huang further noted that should market conditions stabilize in the future, the option might be revisited, and the company will continue to closely monitor market trends and engage investment banks to conduct further research on the matter.
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