ChipMOS To Sell Its Stake In Unimos Shanghai For $137.1 Mln

(RTTNews) - ChipMOS TECHNOLOGIES INC. (IMOS), a Taiwanese semiconductor company, Thursday said its unit ChipMOS BVI will sell its entire remining 45.0242 percent stake in Unimos Shanghai to Suzhou Oriza PuHua ZhiXin Equity Investment Partnership and 10 other local Chinese investment management companies.

The total consideration is around $137.1 million and will be paid to ChipMOS BVI in two installments, with the second installment scheduled 6 months after the first installment.

As per the company, the estimated loss on the disposal is expected to be approximately NT$41.8 million.

"Our Board of Directors approved the proposed sale of all equity interests in Unimos Shanghai to even better align our asset base with the Company's global business strategy, while also further improving the Company's financial strength and competitiveness as the transaction proceeds will be used for future medium and long-term operational development," commented S.J. Cheng, Chairman of ChipMOS.

In pre-market activity, ChipMOS shares are trading at $26.99, up 1.73% on the Nasdaq.