ChipMOS ANNOUNCES PROPOSED PRICING FOR SALE OF 20.2% OWNERSHIP OF
PROPOSED SALE IS PART OF SATISFYING ELIGIBILITY REQUIREMENTS FOR LISTING
ChipMOS TAIWAN ON THE TAIWAN STOCK EXCHANGE ("TSE")
HSINCHU, Aug. 26, 2013
HSINCHU, Aug. 26, 2013 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES
(Bermuda) LTD. ("ChipMOS" or the "Company") (Nasdaq: IMOS) today announced
that with the assistance of its underwriters, Yuanta Securities Company
Limited and Capital Securities Corp., it plans to sell approximately 170
million outstanding common shares of its majority-owned subsidiary, ChipMOS
TECHNOLOGIES INC. (Gre Tai Securities Market: Ticker 8150) ("ChipMOS Taiwan"),
at the proposed price of NT$20.0 (US$0.67) per common share.
In aggregate, the sale would represent approximately 20.2% of the outstanding
shares of ChipMOS Taiwan. This would reduce the Company's ownership to
approximately 533.3 million ChipMOS Taiwan common shares, representing
approximately 63.3% of the outstanding shares of ChipMOS Taiwan, from
As discussed in previous Company press releases, as part of satisfying
eligibility requirements for listing ChipMOS Taiwan on the Taiwan Stock
Exchange ("TSE"), the Company is required to reduce its current ownership
interest to no more than 70% of ChipMOS Taiwan's outstanding shares.
The proposed sale would be through transactions with certain potential
investors. The Company expects that these transactions will close around
mid-October, 2013. The Company will make a formal announcement upon the
completion of the proposed sale.
This news release shall not constitute an offer to sell or the solicitation of
an offer to buy any securities of ChipMOS or of ChipMOS Taiwan, nor shall
there be any sale of securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
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
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.
In Taiwan In the U.S.
Dr. S.K. Chen David Pasquale
ChipMOS TECHNOLOGIES (Bermuda) LTD. Global IR Partners
SOURCE ChipMOS TECHNOLOGIES (Bermuda) LTD.
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