Appleby acted as Bermuda counsel to ChipMOS TECHNOLOGIES
(Bermuda) LTD. (ChipMOS Bermuda), a Bermuda
company with shares listed on the Nasdaq, in relation to its US$540
million merger with its 58.3% owned subsidiary ChipMOS TECHNOLOGIES
Taiwan (ChipMOS Taiwan), with ChipMOS Taiwan being
the surviving company, effective on 31 October 2016. The merger is
consistent with the ongoing efforts to simplify and streamline the
ChipMOS group structure, reduce operating costs in order to enhance
This transaction is the first merger between a Bermuda
NASDAQ-listed company and Taiwan TWSE-listed company. As Taiwan
(Republic of China) is not an appointed jurisdiction under the
Bermuda Companies Act, Appleby assisted in submitting application
to and obtaining approval from the Bermuda Ministry of Economic
Development for Taiwan as an acceptable jurisdiction for this
Frances Woo, Managing Partner in Appleby's Hong Kong office,
led the transaction and was assisted by Counsel Jo Lit and Senior
Associate Vincent Chan. Partner Tonesan Amissah and Senior
Associate Gary Harris of Appleby's Bermuda office worked
closely with the Hong Kong team on the transaction.
Wells Fargo Securities, LLC acted as financial advisor for
ChipMOS Bermuda special committee, K&L Gates and Johnson &
Partners acted as US and Taiwan legal counsels to ChipMOS Bermuda
respectively, Cooley LLP acted as independent legal counsel to the
special committee of ChipMOS Bermuda, while Davis Polk &
Wardwell and Lee and Li acted as US and Taiwan legal counsels to
ChipMOS Taiwan respectively.
ChipMOS group is one of the leading independent providers of
assembly and test services for liquid crystal display, or LCD, and
other flat-panel display driver semiconductors in Taiwan and for
advanced memory and logic/mixed signal products in Taiwan and the
PRC. ChipMOS and its subsidiaries provide assembly and test
services to a broad range of customers, including leading fabless
semiconductor companies, integrated device manufacturers and
independent semiconductor foundries.
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