Innolux may sell US$1.5 bil. of stock to fund LCD plant

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Bloomberg

Taiwan — Innolux Display Corp., the world’s second-largest maker of flat-screen computer monitors, plans to sell as much as US$1.5 billion of stock overseas to finance the construction of a liquid-crystal-display factory in Taiwan.

The company may sell 300 million new shares for listing on the London Stock Exchange, Chief Financial Officer Thomas Hsu said by telephone yesterday, confirming an earlier Dow Jones report. He declined to specify the timing of the sale. ABN Amro Bank, Credit Suisse Group, and Morgan Stanley have been hired to arrange the sale, Hsu said. The affiliate of Hon Hai Precision Industry Co., the world’s largest contract manufacturer of electronic products, has said it plans to build a US$1.8 billion LCD manufacturing line in Miaoli. Innolux, based in Miaoli, gets half of its panels from its own factories and receives the rest from outside suppliers.