Taiwan's UMC and Premier Image Technology begin roadshows

Roadshows for UMC's (United Microelectronics Corp) keenly watched debut ADR began at this week, with pricing under lead manager Morgan Stanley Dean Witter scheduled for Monday September 18. The company is offering 450 million shares on a five for one basis, equating to 90 millions ADS units, with the addition of a two million share greenshoe.