ChipMOS buying shares from Siliconware, takes stake in substrate firm

|About: ChipMOS TECHNOLOGIES (Bermu... (IMOS)|By:, SA News Editor

Along with its Q2 results, ChipMOS (NASDAQ:IMOS) has announced it plans to buy back 1M shares (a 3.3% stake) in the company owned by Siliconware Precision (NASDAQ:SPIL). Following the purchase, Siliconware will own 4.3% of ChipMOS' NYC-listed unit, and 15.4% of its Taipei-listed unit.

In addition, ChipMOS says its Taiwanese unit is buying a 19% stake in JMC Electric, a maker of chip-on-film (COF) tape for LCD driver ICs, for an undisclosed sum. ChipMOS notes the deal will allow it to provide COF tape to LCD driver assembly clients.

ChipMOS expects Q3 revenue to rise 3%-7% Q/Q; the 2-analyst consensus is for revenue to rise 2% to $185.1M.

Gross margin rose to 23.6% in Q2 from 19.8% in Q1 and 15.4% a year ago. The LCD driver ops made up 22% of revenue, chip testing 24, chip assembly 35%, and wafer bumping 19%.

IMOS -1% AH. Q2 results, PR.