Taipei: Although the American depositary receipts (ADRs) of Taiwan Semiconductor Manufacturing Co. (TSMC) rose over 4 percent in the United States overnight, its position in the global market capitalization rankings fell one notch to No. 7.
According to Focus Taiwan, data released by companiesmarketcap, this shift occurred as shares in Space Exploration Technologies Corp. (SpaceX) surged nearly 20 percent, propelling it to sixth place following its initial public offering (IPO), the largest-ever recorded globally.
. On Monday, TSMC's ADRs increased by 4.12 percent, closing at US$441.40. This rise boosted its market cap to US$2.289 trillion, spurred by the announcement of an impending peace deal between the U.S. and Iran and sustained optimism surrounding AI development. Meanwhile, SpaceX launched its IPO on June 12, raising approximately US$75 billion. Its shares climbed 19.22 percent on the first day of trading and gained another 19.6 percent on the second day, closing at US$192.50. This pushed SpaceX's market capitalization to US$2.519 trillion, placing it ahead of TSMC and close to Amazon, which holds a market cap of US$2.646 trillion.
In Taipei, TSMC shares, which constitute over 40 percent of the total market value, maintained an upward trend by rising 1.05 percent to close at NT$2,400.00 (US$76.05). This growth contributed to the local main board's gain of 0.94 percent. Meanwhile, Fubon Financial Holding Co. announced over the weekend that its subsidiary, Fubon Life Insurance, invested US$6.75 million or US$135 per share in SpaceX, subscribing to 50,000 common shares. This purchase excluded trading commissions, related tax payments, and other fees.
Fubon Financial disclosed that it used its own funds for this investment in SpaceX. Earlier, on June 9, Fubon Financial had announced plans to subscribe up to US$600 million worth of SpaceX shares, but the final investment was lower due to the IPO being 5-6 times oversubscribed, as analysts noted. Currently, Fubon Financial is the only listed company that has revealed its life insurance unit's participation in SpaceX's IPO.
Fubon Financial Chairman Richard Tsai, speaking after the annual general meeting on June 12, highlighted SpaceX's development in low-orbit satellite communications and space data centers, suggesting substantial growth potential for the stock.