UMC, Chipbond tout share swapSEEKING EXPANSION: Making inroads into the IC testing market, UMC is following a similar move by TSMC, but under a different strategy than its bigger chipmaking rivalStaff writer, with CNAUnited Microelectronics Corp (UMC, 聯電), Taiwan’s second-largest contract chipmaker, is to set up a strategic partnership with IC packaging and testing services provider Chipbond Technology Corp (頎邦科技) through a share swap, the company said on Friday. Aiming to acquire a 9.09 percent stake in Chipbond, the chipmaker said that shares would be swapped at a rate of one common UMC share for 0.87 common shares of Chipbond. The deal would result in the IC packaging and testing firm holding a 0.62 percent stake in UMC, it said. The agreement includes the issuance of 61.11 million new UMC shares, it said. Those shares, as well as 16.08 million UMC shares held by its subsidiary Fortune Venture Capital Corp (宏誠創投), would be exchanged for 67.15 million newly issued Chipbond shares, it added.

Source: Taipei Times September 05, 2021 15:56 UTC