- ChipMOS shares (IMOS -4.2%) are sliding after the company announced it plans to sell 170M outstanding common shares of its majority-owned subsidiary, ChipMOS Taiwan, at a price of $0.67/share (NT$20).
- The sale would represent 20.2% of outstanding shares of the subsidiary and reduce ChipMOS's stake to 533.3M shares (63.3% of shares outstanding). The move is part of ChipMOS's plan to list the subsidiary on the Taiwan Stock Exchange, which requires ChipMOS to own no more than 70% of outstanding shares.
- The company expects the sale to close in mid-Oct.
From other sites
at MarketWatch.com (May 14, 2012)
at CNBC.com (Mar 21, 2012)
at CNBC.com (May 26, 2011)
at MarketWatch.com (May 19, 2010)
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