ProMOS Technologies Inc (
Shareholders today approved a proposal to sell 600 million shares overseas, worth US$248 million at yesterday's closing price.
Hsinchu-based ProMOS aims to raise US$300 million, president Chen Min-liang (
ProMOS last month said it expects to post a pretax profit this year after earlier forecasting a loss, because of increasing sales and lower costs.
The price of the benchmark memory chip has risen almost half from its February low as demand rebounds for personal computers, according to Dramexchange.com, a Taiwan-based online market-maker.
Shares of ProMOS fell NT$0.10, or 0.7 percent, to NT$14.05 in Taipei. They have climbed 46 percent this year, outpacing a 24 percent gain on the TAIEX.
ProMOS will use the money raised from the overseas share sale to buy equipment for its first 12-inch silicon wafer plant.
The company plans further share sales next year, vice president Albert Lin (林育中) said.
The overseas-traded shares of Taiwanes companies often trade at higher levels than in the domestic market because international investment in the country is restricted.
Still, ProMOS's UK- listed global depositary receipts last traded at the equivalent of NT$13.66, a discount to the company's domestic shares.
ProMOS said on Oct. 29 it expects to report full-year pretax profit of NT$361 million. It also raised its sales expectation for this year to NT$23.4 billion from N$22.3 billion.
The company, which in May forecast a full-year loss of NT$1.2 billion, said on Nov. 5 it expects a fourth-quarter pretax profit of NT$973 million.
ProMOS had profit of NT$864 million in the third quarter, ending two quarters of losses totaling NT$1.5 billion.
Elon Musk’s lieutenants have reached out to chip industry suppliers, including Applied Materials Inc, Tokyo Electron Ltd and Lam Research Corp, for his envisioned Terafab, early steps in an audacious and likely arduous attempt to break into the production of cutting-edge chips. Staff working for the joint venture between Tesla Inc and Space Exploration Technologies Corp (SpaceX) have sought price quotes and delivery times for an array of chipmaking gear, people familiar with the matter said. In past weeks, they’ve contacted makers of photomasks, substrates, etchers, depositors, cleaning devices, testers and other tools, according to the people, who asked not to
Taichung reported the steepest fall in completed home prices among the six special municipalities in the first quarter of this year, data compiled by Taiwan Realty Co (台灣房屋) showed yesterday. From January through last month, the average transaction price for completed homes in Taichung fell 8 percent from a year earlier to NT$299,000 (US$9,483) per ping (3.3m²), said Taiwan Realty, which compiled the data based on the government’s price registration platform. The decline could be attributed to many home buyers choosing relatively affordable used homes to live in themselves, instead of newly built homes in the city’s prime property market, Taiwan Realty
JET JUICE: The war on Iran’s secondary effects have seen fuel prices skyrocket, knocking flight schedules down to earth in return as airlines struggle with costs Airline passengers should brace for more irritation in the next few months as carriers worldwide cancel flights and ground planes to cope with stratospheric increases in jet-fuel prices. Dutch flag carrier KLM is the latest company to cut its schedule, saying on Thursday that it would scrap 80 return flights at Amsterdam’s Schiphol Airport in the coming month. That puts it in the same league as United Airlines Holdings Inc, Deutsche Lufthansa AG and Cathay Pacific Airways Ltd, which have all pruned itineraries to mitigate costs. Global capacity for next month has been reduced by about 3 percentage points, with all
The government yesterday approved applications by Alphabet Inc’s Google to invest NT$27.08 billion (US$859.98 million) in Taiwan, the Ministry of Economic Affairs said in a statement. The Department of Investment Review approved two investments proposed by Google, with much of the funds to be used for data processing and electronic information supply services, as well as inventory procurement businesses in the semiconductor field, the ministry said. It marks the second consecutive year that Google has applied to increase its investment in Taiwan. Google plans to infuse NT$25.34 billion into Charter Investments Ltd (特許投資顧問) through its Singapore-based subsidiary Fructan Holdings Singapore Pte Ltd, and
RSS