ChipMOS To Reduce Ownership Interest In ChipMOS Taiwan - Quick Facts

(RTTNews) - ChipMOS TECHNOLOGIES (Bermuda) LTD. (IMOS) announced that it plans to sell approximately 170 million outstanding common shares of its majority-owned subsidiary, ChipMOS TECHNOLOGIES INC. (ChipMOS Taiwan), at the proposed price of $0.67 per common share.

As part of satisfying eligibility requirements for listing ChipMOS Taiwan on the Taiwan Stock Exchange, the company is required to reduce its current ownership interest to no more than 70% of ChipMOS Taiwan's outstanding shares.

The deal would reduce the company's ownership to approximately 63.3% of the outstanding shares of ChipMOS Taiwan, from approximately 83.5%.