HSINCHU, Taiwan, April 8, 2019 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today completed the sale of 9.1 million common shares of JMC ELECTRONICS CO., LTD. (the "JMC"). Total proceeds are NT$1,192,100 thousand (approximately US$38.6 million), with a disposal gain of NT$981,675 thousand (approximately US$31.8 million) after the deduction of related tax and expenses. After the sale, the Company continues to own 10 million common shares of JMC, representing 10.0% of the total shares outstanding, with the carrying amount of the remaining investment expected to be NT$226,477 thousand (approximately US$7.3 million).
S.J. Cheng, Chairman and President of ChipMOS, said, "While we remain confident in JMC's long-term business prospects, we are pleased to have realized this gain on our strategic investment. The proceeds will be used to further strengthen our Company's financial structure, while increasing our balance of working capital and decreasing the debt ratio. This is in-line with our strategy of balancing support of near-term customer growth and capacity demands, with ensuring the long-term success and financial health of the Company."
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 andNASDAQ: IMOS) (https://www.chipmos.com) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test services to a broad range of customers, including leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries.
This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are 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.
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