ChipMOS Technologies (IMOS) Pops on Subsidiary IPO Launch

April 19, 2013 11:04 AM EDT
ChipMOS Technologies Ltd. (Nasdaq: IMOS) is ripping Friday following commencement of trading for its ChipMOS Technologies, Inc., subsidiary on Taiwan's emerging stock board of Gre Tai Securities Market under stock code "8150."

The Company also announced, "its sale of 6.5 million shares or 0.8% of the total number of ChipMOS Taiwan's outstanding shares, at the price of NT$15.0 per share to ChipMOS Taiwan's underwriters, Yuanta Securities Company Limited and Capital Securities Corp., and to certain others, including non-US employees of ChipMOS Taiwan."

Shares are up nearly 13 percent on the session, paring some earlier gains.

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