TOKYO, Sept 13 Japan Display, the world's top
maker of screens for smartphones and tablets, plans to raise 200
billion yen ($2 billion) in an initial public offering by the
end of the financial year ending in March, the Nikkei newspaper
said on Friday.
Japan Display, a supplier to Apple Inc, was formed
in 2012 from display units of Sony Corp, Hitachi Ltd
and Toshiba Corp. It is 70 percent backed by
Japan Display CEO Shuichi Otsuka told Reuters on Sept. 5 the
company would reach maximum capacity at a recently opened
factory by next summer, raising the likelihood of an IPO early
next year to fund a new facility.
On the same day, a source familiar with the matter told
Reuters the company was aiming for an IPO during the current
financial year that would value the entire business at about 800
Japan Display has tapped Goldman Sachs, Nomura
Securities and Morgan Stanley as global
coordinators for the IPO, sources with direct knowledge of the
matter have told Reuters.