UPDATE: TRADING SCHEDULED TO COMMENCE TOMORROW FOR ChipMOS' SUBSIDIARY ON TAIWAN'S EMERGING STOCK BOARD; COMPANY COMPLETES SALE OF 0.8% OF SUBSIDIARY'S SHARES
HSINCHU, Taiwan, April 18, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES (Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced trading of shares of its subsidiary ChipMOS TECHNOLOGIES INC., a Taiwan corporation ("ChipMOS Taiwan") on Taiwan's emerging stock board of Gre Tai Securities Market under stock code "8150" is scheduled to commence tomorrow, Friday, April 19, 2013.
The Company also announced today, its sale of 6.5 million shares or 0.8% of the total number of ChipMOS Taiwan's outstanding shares, at the price of NT$15.0 per share to ChipMOS Taiwan's underwriters, Yuanta Securities Company Limited and Capital Securities Corp., and to certain others, including non-US employees of ChipMOS Taiwan. After deducting tax expense payable to ROC authority for the aforementioned sale, the proceeds to ChipMOS Bermuda were approximately NT$97.2 million (US$3.3 million). As of April 18, 2013, after taking into account the above mentioned sale by ChipMOS Bermuda, the Company continues to hold approximately 703 million shares of ChipMOS Taiwan, representing 83.4% of the total number of ChipMOS Taiwan's outstanding shares. Siliconware Precision Industries Co., Ltd., the Company's other major shareholder continues to hold 133 million shares of ChipMOS Taiwan, representing approximately 15.8% of the total number of ChipMOS Taiwan's outstanding shares.
The Company and ChipMOS Taiwan will continue to work towards satisfying the eligibility requirements for listing ChipMOS Taiwan on the Taiwan Stock Exchange ("TSE") in the second quarter of 2014. The Company expects that its ownership in ChipMOS Taiwan will be further reduced to 70% or less upon or prior to the completion of the TSE listing to comply with eligibility requirements. For risks associated with the continued trading on the emerging market stock board and the planned TSE listing plan, please refer to the press releases issued by the Company on March 18, 2013 and April 12, 2013.
About ChipMOS TECHNOLOGIES (Bermuda) LTD.:
ChipMOS (http://www.chipmos.com) is a leading independent provider of semiconductor testing and assembly services to customers in Taiwan, Japan, and the U.S. With advanced facilities in Hsinchu and Southern Taiwan Science Parks in Taiwan and Shanghai, ChipMOS and its subsidiaries provide testing and assembly services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
Certain statements contained in this announcement may be viewed as "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
More by this Source
ChipMOS TO REPURCHASE 12.2% OWNERSHIP FROM ThaiLin
Nov 21, 2013, 06:00 ET
ChipMOS REPORTS NOVEMBER 2013 REVENUE
Dec 10, 2013, 06:00 ET
CHIPMOS' SUBSIDIARY SUBMITS TAIWAN STOCK EXCHANGE LISTING APPLICATION
Nov 27, 2013, 06:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.