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Technology Stocks : Alliance Semiconductor

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Jul 10 5:00 PM EST

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To: Czechsinthemail who wrote (8476)	9/18/2000 1:55:52 PM
From: DJBEINO	Read Replies (1) of 9582

UMC to debut on New York Stock Exchange Taipei, Sept. 17, 2000 (CENS)--United Microelectronics Corp., the world's second largest dedicated chipmaker, plans to sell off its shares in the form of American depository receipts (ADRs) on the New York Stock Exchange Monday, company officials said. UMC will float 90 million units of the ADRs, or 450 million UMC common shares, on the NYSE at premium of about 15%-17.5% of the chipmaker's closing price of NT$77.5 a share last Saturday, the officials said. Under the efforts of the two lead underwriters--Morgan Stanley Dean Witter and Credit Suisse First Boston, UMC's ADRs have already sold out even before the official debut. The company is expected to raise some NT$1 billion in new funds from the sale of the ADR issue, about NT$200 million less than the original target due to the recent sluggish in the local stock market. The company has forecast sales revenue of NT$88 billion for 2000, resulting from a merger of its four wafer foundry affiliates in January this year

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