HSINCHU, Jan. 21, 2025 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ("OSAT"), today announced that its Board of Directors has authorized a share repurchase program with the total amount up to NT$350 million (approximately US$10.7 million, based on the exchange rate of NT$32.79 to US$1.00 as of December 31, 2024).
Under the program, the company will repurchase up to 10,000,000 shares from the open market on the Taiwan Stock Exchange, representing approximately 1.38% of its issued share capital. The shares will be repurchased within a price range of NT$21.18 to NT$35.00 per share, while the buyback will still be carried out if the stock price falls lower than the aforementioned range. The authorization repurchase program period is from January 22 to March 21, 2025.
S.J. Cheng, Chairman and President of ChipMOS, said, "Our latest repurchase authorization is inline with our capital allocation strategy and directly reflects our view that our shares are undervalued and represent a highly compelling investment opportunity. We remain confident in our financial performance, and focused on the strategic initiatives that will help drive our continued growth and leadership success, as we work to build long-term shareholder value."
About ChipMOS TECHNOLOGIES INC.:
ChipMOS TECHNOLOGIES INC. ("ChipMOS" or the "Company") (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) () is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide.
Forward-Looking Statements:
This press release may contain 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, strategies, goals, plans or intentions. These statements may 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. Further information regarding these risks, uncertainties and other factors are included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") and in the Company's other filings with the SEC.
Contacts:
In Taiwan
Jesse Huang
ChipMOS TECHNOLOGIES INC.
+886-6-5052388 ext. 7715
In the U.S.
David Pasquale
Global IR Partners
+1-914-337-8801