China's TCL says gets $133 mln from share placement
SHANGHAI, April 24 (Reuters) - Chinese television and mobile phone maker TCL Corp 000100.SZ said on Friday it has raised 904.55 million yuan ($132.5 million) from a share placement deal.
TCL issued 350.6 million new shares to eight selected investors including its chairman, Li Dongsheng, at 2.58 yuan per share, it said in a statement.
The company had said in September that it would raise 1.4 billion yuan from a share placement, reduced from a previously announced plan to raise 1.7 billion yuan, subject to regulatory approval.
Proceeds would fund expansion of production of liquid crystal display TVs, it said.
The firm will build four LCD TV production assembly lines this year, adding two more in the beginning of next year, increasing the total number of such assembly lines to eight by the first quarter of 2010, it added.
TCL's shares rose 2.4 percent in early trade to 3.79 yuan, outperforming a 0.6 percent rise in the mainland's benchmark Shanghai Composite Index .SSEC. ($1=6.826 Yuan) (Reporting by Fang Yan and Edmund Klamann)
