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ChipMOS TECHNOLOGIES (Bermuda) LTD. Message Board

  • davegras davegras Dec 2, 2012 12:46 PM Flag

    ChipMos IPO

    Marnis, the TSE takes around 45 days to approve a listing and I thought it was after the 6-month ESM requirement was met. It would be a little unusual to approve something prior to a major requirement being met so I still wonder about that Sept. 1 deadline, unless the GreTei exchange has no such requirement (i.e. approval can be received and then finalized upon completion of the six month period.) though I doubt it

    As for valuation, at least 15 analysts cover Chipbond which sports a 3.7% dividend yield. Their net margin is much better than SPIL's as is their long-term growth rate; yet the stock trades at a 15-20% discount to SPIL. So size seems to matter to some degree.

    All of use are floating information that seems to contradict each other. For example, Caff says the IPO price may be based on the last 20 days of trading on the ESM so why bother trying to determine an IPO price? Just my two cents but I think you start with a small amount on the ESM to meet the 6-month introductory phase and then you IPO the rest of the shares. As for the time line, it remains to be seen but I never heard of a company promoting an IPO without getting approval for said IPO first. From a legal standpoint it doesn't sound right but even if they could, it seems like something the regulators would frown upon. So I'm a little suspicious that the TSE would allow it but naturally I defer to management on this issue. So maybe I'm wrong. Nonetheless, I'm still still sticking with ESM 6-month wait Application to primary market File for IPO. If I'm wrong, I would be delighted. However, nothing has come earlier than expected with this company. That all said, the key is to get the ball rolling so one their listed on the ESM I'll exhale a bit knowing that within 9 months of that date I'll probably be owning ADRs.

    Sentiment: Strong Buy

19.85-0.01(-0.05%)Sep 28 4:00 PMEDT