UMC Chairman Tsao, Colleagues Buy $5.7 Mln of Company Shares
Bloomberg News
January 27, 1999, 1:28 a.m. PT
Hsinchu, Taiwan, Jan. 27 (Bloomberg) -- United
Microelectronics Corp. Chairman Robert Tsao and other UMC
executives bought 40 million company shares for about NT$184
million ($5.7 million) amid expectations of a worldwide
semiconductor industry recovery.
The purchase, the first of its kind in about three years,
was made through an investment company last week, said Stan Hung,
the company's finance director.
UMC, the world's second-largest maker of computer chips to
customer order, said yesterday its sales and profit will grow
through the second quarter because of more stable chip prices.
''So many orders are flooding in (that) customers are more
concerned about getting their products delivered on time than
product prices,'' Chief Executive Officer John Hsuan said.
UMC shares were the most actively traded stock by value
today, ending unchanged at NT$46.20. |
