In about 2 weeks IMOS will allocate 1.5M [much less than 1%] shares [out of their 84% of 842M shares, Spil owns the rest] of ChipmosTaiwan to begin trading on the [minor] Taiwan exchange. This will cause Taiwan analysts to start covering IMOST [the new company]. In turn, and for regulatory reason, IMOS most lower their ownership of the new company to 70%- thereby selling about another 14% or about 115M shares to underwriters, creating a market in TW for these shares on this TW exchange. I think this will happen quickly but in any case has to be completed by October. This is a BIG deal over in Taiwan. Eventually in March there will a move to a major exchange. And investors, before this rich bonanza to us IMOS shareholders occurrs in about 2 weeks, wants to sell IMOS for what reason?
The daily trading markets are never to be confused with rationality.
Today, I looked intraday and saw lower highs, basng with higher lows, where it closes, who knows?
Seemed too difficult to not buy on this dip and HIMX as well, so, again what the hell, added both (after locking in some profits, selling 15% of HIMX yesterday with a $5.75 limit order which I doubted could be hit, but was).
Doubt this will be the first time I bought at an intraday low.
But I agree that the impending 1st stage IMOST ipo seems bizarre as a time for a sell-off. Then again, we closed @ $10.41 on Friday, March 15th, so still up 15 to 20% in less than 3 weeks.
Doubt it's due to the crazy fat kid from N. Korea. We will be traveling to the area soon.
One ?, is there ever any concern about SPIL's continuing ownership in its small competitor, as well as the CEO's interest? Just curious.
Lastly, Yahoo's system is preventing updates on holdings, and they are "sorry" for any inconvenience. This company is difficult to not hate, as spammers continue to engulf MBs, "reporting abuse" is meaningless.
royco- I just lost my answer to you. Boy does Yahoo suck. I also wish they could get rid of this computer generated spam. I can't write all the stuff I just composed [too tired]. Spil should have bought out IMOS long ago. They could have used IMOS FCF for the purchase. It would have been like getting a company for nada. I have no idea what they will do. Hopefully this post will not disappear.