Chipmos Technologies (IMOS)

[madprophet]

Another step in full uplisting on Taiwan market.

ChipMOS slides on proposed pricing of Taiwanese subsidiary
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.

http://seekingalpha.com/currents/post/1243802?source=email_rt_mc_readmore&app=1