Taiwan's Chimei to raise $200 mln in share offer
TAIPEI, June 26
TAIPEI, June 26 (Reuters) - Loss-making Taiwanese panel maker Chimei Innolux said it will raise T$6 billion ($200 million) in an offering of 600 million new shares.
The world's No.3 LCD maker said 10 percent of the issued shares would go to employees. It did not elaborate on the reason for the capital raising in a statement late on Monday.
Chimei lost $2.2 billion in 2011 after losing some $500 million the year before, beset by falling prices and slow demand as well as by rising costs to produce panels.
It has recently agreed with its banks on extending repayments on some $8 billion in loans after the government stepped in to lobby banks to support the company. . ($1 = 29.9655 Taiwan dollars) (Reporting by Jonathan Standing; Editing by Edwina Gibbs)
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- WTO overcomes last minute hitch to reach its first global trade deal
- U.S. freeze shows no sign of weekend melt after deadly storm
- North Korea frees U.S. Korean War veteran after seven weeks |
- Colorado baker discriminated by denying gay couple wedding cake: judge