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  • jaretwilson jaretwilson Nov 29, 2012 12:26 PM Flag

    IPO - part 1

    Dave: Although the share count increases when Thailin gets folded in, so too does the revenue, so that should partially balance out.

    Also, Chipmos will sell some Chipmos Taiwan shares for the IPO on the big board, but the Chipmos Taiwan shares owned by Thailin will get retired (exchanged for cash from Chipmos Taiwan, who will retire them) which also works to approximately balance out the dilution.

    Sentiment: Strong Buy

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    • Jaret,my understand Is that IMOS will receive the money from the IPO and then go ahead and buy and retire the 4.5 million shares from Thailin.this should take care of the dillution as the IMOS share count will go down to about 29 million shares fully diluted.

      Sentiment: Strong Buy

      • 9 Replies to caffeine444444
      • JW, Caff. I factored in the contribution from Thailin in my example. The shares sold in the IPO comes from us so it belongs to us; they can retire the shares like you said so its a zero sum gain. I would have to adjust my example though and use 33.5M shares offset by a slightly better conversation rate. Or use 29M and adjust for 15% less shares. Not really dilution but my 30M number is not valid. So in my example the IPO goes off at around $26, FWIW.

        Sentiment: Strong Buy

      • JW,Caff, Davegras, et. al. [ but not the Severless, Dawnless, Templess person]- the corporate structure of IMOS is complex and complicated as is its unwinding. I gave broad strokes in my analysis, the reality is deeper. We could post a 1000 posts and never get full knowledge with all its ramifications. Basically, I think the takeaway is that the EMS listing route has been decided by management as the best for unlocking fair value, and in hindsight we can now better understand some of management's moves and reluctance of this or that to keep their options open. I fully expect some annoucment of the roadmap in due course, sooner rather than later, and then the clock will start ticking [6 months and a day after EMS listing]. I think we have to look at the forest and not the indiviual trees as none on this thread is a Taiwan SEC lawyer. Management and its most influential shareholder, SPIL [who just gave away 800,000 shares at a bargain basement price to close this deal] will protect our interests [despite Buffy's lament]. Think a minute about SPIL's ownership percentage and their stake in all of this.. Think about Chipbond's valuation vs. IMOS's. This will be benefical to us shareholders. All that is needed is a tiny bit of patience. IF EMS does not get annouced shortly then we can all re-evaluate. I gave a pretty strict timeline. IMOS is not going anywhere. The business is going well. God is in his heaven and all is right with the world.

        Sentiment: Strong Buy

      • JW,Caff, Davegras, et. al. [ but not the Severless, Dawnless, Templess person]- the corporate structure of IMOS is complex and complicated as is its unwinding. I gave broad strokes in my analysis, the reality is deeper. We could post a 1000 posts and never get full knowledge with all its ramifications. Basically, I think the takeaway is that the EMS listing route has been decided by management as the best for unlocking fair value, and in hindsight we can now better understand some of management's moves and reluctance of this or that to keep their options open. I fully expect some annoucment of the roadmap in due course, sooner rather than later, and then the clock will start ticking [6 months and a day after EMS listing]. I think we have to look at the forest and not the indiviual trees as none on this thread is a Taiwan SEC lawyer. Management and its most influential shareholder, SPIL [who just gave away 800,000 shares at a bargain basement price to close this deal] will protect our interests [despite Buffy's lament]. Think a minute about SPIL's ownership percentage and their stake in all of this.. Think about Chipbond's valuation vs. IMOS's. This will be benefical to us shareholders. All that is needed is a tiny bit of patience. IF EMS does not get annouced shortly then we can all re-evaluate. I gave a pretty strict timeline. IMOS is not going anywhere. The business is going well. God is in his heaven and all is right with the world.

        Sentiment: Strong Buy

      • JW,Caff, Davegras, et. al. [ but not the Severless, Dawnless, Templess person]- the corporate structure of IMOS is complex and complicated as is its unwinding. I gave broad strokes in my analysis, the reality is deeper. We could post a 1000 posts and never get full knowledge with all its ramifications. Basically, I think the takeaway is that the EMS listing route has been decided by management as the best for unlocking fair value, and in hindsight we can now better understand some of management's moves and reluctance of this or that to keep their options open. I fully expect some annoucment of the roadmap in due course, sooner rather than later, and then the clock will start ticking [6 months and a day after EMS listing]. I think we have to look at the forest and not the indiviual trees as none on this thread is a Taiwan SEC lawyer. Management and its most influential shareholder, SPIL [who just gave away 800,000 shares at a bargain basement price to close this deal] will protect our interests [despite Buffy's lament]. Think a minute about SPIL's ownership percentage and their stake in all of this.. Think about Chipbond's valuation vs. IMOS's. This will be benefical to us shareholders. All that is needed is a tiny bit of patience. IF EMS does not get annouced shortly then we can all re-evaluate. I gave a pretty strict timeline. IMOS is not going anywhere. The business is going well. God is in his heaven and all is right with the world.

      • JW,Caff, Davegras, et. al. [ but not the Severless, Dawnless, Templess person]- the corporate structure of IMOS is complex and complicated as is its unwinding. I gave broad strokes in my analysis, the reality is deeper. We could post a 1000 posts and never get full knowledge with all its ramifications. Basically, I think the takeaway is that the EMS listing route has been decided by management as the best for unlocking fair value, and in hindsight we can now better understand some of management's moves and reluctance of this or that to keep their options open. I fully expect some annoucment of the roadmap in due course, sooner rather than later, and then the clock will start ticking [6 months and a day after EMS listing]. I think we have to look at the forest and not the indiviual trees as none on this thread is a Taiwan SEC lawyer. Management and its most influential shareholder, SPIL [who just gave away 800,000 shares at a bargain basement price to close this deal] will protect our interests [despite Buffy's lament]. Think a minute about SPIL's ownership percentage and their stake in all of this.. Think about Chipbond's valuation vs. IMOS's. This will be benefical to us shareholders. All that is needed is a tiny bit of patience. IF EMS does not get annouced shortly then we can all re-evaluate. I gave a pretty strict timeline. IMOS is not going anywhere. The business is going well. God is in his heaven and all is right with the world.

        Sentiment: Strong Buy

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