ChipMOS Announces $15 Mln Share Buyback

(RTTNews) - ChipMOS Technologies (Bermuda) Ltd (IMOS), a provider of outsourced semiconductor assembly and test services, said Wednesday its board has authorized the repurchase of $15 million of its common stock from the open market.

S.J. Cheng, Chief Executive Officer of ChipMOS, said, "Our latest Board authorized repurchase program reflects our confidence in ChipMOS's underlying business fundamentals and prospects for growth."

Shares under the new program will be repurchased pursuant to a written plan agreed to and entered into between the company and its broker. The plan specifies the total value of shares of the company's common stock that may be repurchased and the prices at which the repurchases may occur, subject to the terms and conditions of the plan and applicable law requirements.