HSINCHU, Taiwan, March 24, 2017 /PRNewswire-FirstCall/ -- ChipMOS
TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock
Exchange: 8150 and NASDAQ: IMOS) today announced the completion of
its previously disclosed equity interest transfer to a group of
investors led by Tsinghua Unigroup ("Strategic Investors").
Under the joint-venture agreement approved by the Board of
ChipMOS on November 30, 2016, ChipMOS
TECHNOLOGIES (BVI) LTD. ("ChipMOS BVI"), a wholly owned subsidiary
of ChipMOS, sold 54.98% of the equity interest of its wholly owned
subsidiary, ChipMOS TECHNOLOGIES (Shanghai) LTD. ("ChipMOS Shanghai"), to
Strategic Investors for approximately US$72
million. ChipMOS BVI will continue to own 45.02% of the
equity interests of ChipMOS Shanghai, Tsinghua Unigroup through its
subsidiary, Tibet Unigroup Guowei Investment Co., Ltd. ("Unigroup
Guowei") will own 48%, and other strategic investors, including a
limited partnership owned by ChipMOS Shanghai's employees will own
6.98%.
Upon receipt of the proceeds from the equity interest sale, the
Company plans to reinvest back into ChipMOS Shanghai approximately
RMB 484 million (approximately
US$70 million) pro rata, resulting in
the total additional investment of RMB 1,074
million (approximately US$155
million) to ChipMOS Shanghai, which will allow for the
expansion of the capacity of and services offered by ChipMOS
Shanghai. The reinvestment is expected to occur in two tranches,
one by the end of the first half of 2017 and one depending on the
CapEx plan of ChipMOS Shanghai, which is directly aligned with the
operation's strategic growth plan.
S.J. Cheng, Chairman of ChipMOS,
commented, "This is another major step forward that strengthens our
competitive position, significantly expands the growth potential of
our ChipMOS Shanghai's operations, and creates a higher return for
our company and shareholders. We appreciate the confidence
expressed by Tsinghhua Unigroup and our other strategic investors
in selecting ChipMOS Shanghai as their partner given the expected
growth of China's domestic
semiconductor supply chain and the critical role OSAT services will
play in ensuring higher quality yields and supporting the overall
expected expansion. With the benefit of the additional
financial and strategic partnership resources, we can now further
accelerate the planned expansion for LCD driver ICs, touch driver,
AMOLED, OLED and memory testing, assembly and bumping services
offered by ChipMOS Shanghai. We look forward to working
closely with Tsinghua Unigroup to grow ChipMOS Shanghai's revenue
and profit, while promoting the interests of all shareholders and
employees."
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan
Stock Exchange: 8150 and NASDAQ: IMOS) (http://www.chipmos.com) is
an industry leading provider of semiconductor assembly and test
services. With advanced facilities in Hsinchu Science Park, Hsinchu
Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS provide assembly and test
services to a broad range of customers, including leading fabless
semiconductor companies, integrated device manufacturers and
independent semiconductor foundries.
Forward-Looking Statements
This press release contains certain forward-looking statements.
These forward-looking statements may be identified by words such as
'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,'
'should,' 'seeks,' 'estimates,' 'future' or similar expressions or
by discussion of, among other things, strategy, goals, plans or
intentions. These statements include financial projections and
estimates and their underlying assumptions, statements regarding
plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future
performance. Actual results may differ materially in the future
from those reflected in forward-looking statements contained in
this document, due to various factors. These risks and
uncertainties include those discussed under "Cautionary Statement
Concerning Forward Looking Statements" and "Risk Factors" in the
prospectus included in the registration statement on Form F-4 that
ChipMOS filed with the U.S. SEC.
Contacts:
In Taiwan
Dr. S.K.
Chen
ChipMOS TECHNOLOGIES
INC.
+886-6-507-7712
s.k._chen@chipmos.com
|
In the
U.S.
David
Pasquale
Global IR
Partners
+1-914-337-8801
dpasquale@globalirpartners.com
|
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SOURCE ChipMOS TECHNOLOGIES INC.