BOE to Issue New Shares to Fund Investment in 6G TFT-LCD
Sina Tech, 11/07/08
Chinese TFT-LCD manufacturer BOE Technology (000725.SZ) has announced that it will provide fewer than 10 investors with a chance to purchase between 2.7 bln and 5.5 bln shares in stock, with single investors each limited to a maximum share purchase of 700 mln. The company has set the lowest issue price at RMB 2.2 and expects to raise between RMB 6 bln and RMB 12 bln in capital. Of this amount, its 6th generation TFT-LCD production line in Hefei will receive RMB 9 bln in further capital, and RMB 1 bln will be used to replenish the company's liquidity.
Of the RMB 9 bln directed towards the 6G TFT-LCD production line, RMB 6 bln will be split between five state-owned companies in Heifei, including Heifei Xincheng State-Owned Assets Management Co Ltd. The remaining RMB 3 bln to RMB 6 bln will be directed toward other strategic investors.
Keywords: financing Heifei Xincheng State-Owned Assets Management 000725.SZ 6G BOE hardware Hefei TFT-LCD
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