New UMC shares start trading on local bourse
Taipei, Jan. 3, 2000 (CENS)--Shares of the five-in-one newly reorganized United Microelectronics Corp. will start trading on the local stock market Tuesday, making UMC the largest listed company in terms of paid-in capital, totaling NT$90.2 billion.
The newly reorganized UMC composes of the original UMC and its four affiliates, United Semiconductor Corp., United Integrated Circuits Corp., United Silicon Inc. and Utek Semiconductor Corp.
Every two shares of Utek Semiconductor, previously a listed company, will be changed into one new UMC share and Utek's shareholders will be able to trade new UMC shares on the local bourse with share-exchange certificates starting on Jan. 10.
The new UMC will strive to become one of the best dedicated chipmakers in the global market, Robert Tsao, chairman of the UMC Group, said in a ceremony to mark the merger.
After the merger, the new UMC will have a production capacity of 2.40 million eight-inch equivalent wafers per year, compared to a projected yearly capacity of 2.81 million wafers by UMC rival, Taiwan Semiconductor Mfg. Co.
However, TSMC announced late last week that it would buy the 70% of TSMC-Acer Semiconductor Manufacturing Corp., a microchip joint venture with Acer Inc., a move that will boost its annual production capacity to about three million wafers.
Shares of UMC closed flat at NT$112 on Dec. 28, the last trading for 1999. |
