TSMC Founder Morris Chang

4925.314 - 4972.837 Dr. Morris Chang

Yeah, ADI is American Deposit Receipts. It's New York. It's a separate market. In fact, right now, the TSMC price, ADR price is... has a 20% premium over. Really? Oh, wow. However, you know, you need TSMC board permission to convert your shares to ADR. Otherwise, you'd be able to arbitrage? Yeah. We don't want that. So, as I said, as I was saying, the board has to approve any conversion of...