China Display Optoelectronics Technology Holdings Limited
TCL Display Issues Approximately 258 Million Placing Shares to Raise Net Proceeds of Approximately HK$156.5 Million
[Immediate Release] TCL Display Issues Approximately 258 Million Placing Shares to Raise Net Proceeds of Approximately HK$156.5 Million (3 June 2016, Hong Kong) – TCL Display Technology Holdings Limited (“TCL Display” or the “Group”; HKSE stock code: 334), the leading provider of small-to-medium-sized display modules in China, announced that the Group will issue a maximum of approximately 258 million placing shares at a placing price of HK$0.62 per share, which represents approximately 15.00% of the existing issued shares and approximately 13.04% of the issued shares as enlarged. The maximum net proceeds from the placing will be approximately HK$156.5 million, among which approximately HK$150 million is intended to be used for the expansion of the Group’s LTPS LCD module production scale, and approximately HK$6.5 million as general working capital of the Group. Upon the completion of the placing, none of the placees will become a substantial shareholder of the Group. Mr. LI Jian, Chief Executive Officer of TCL Display, expressed, “In view of the growing demand for the higher-end LTPS LCD modules in the market, expansion of the Group’s production lines using the gross proceeds from the placing not only could raise its market share and generate greater profits, but also strengthen the Group’s financial position and broaden its shareholders base, that inject new impetus for future business developments.” The Group has manufacturing plant in Huizhou, the Mainland China, which covers a total gross floor area of over 44,000 sq. m. Together with the Group’s professional team and the expanding production lines, the Group will be providing even more excellent products to global customers. -End- About TCL Display For more information, please visit its website at www.tcldisplay.com. Issued by Cornerstones Communications Ltd. on behalf of TCL Display Technology Holdings Limited. For further information, please contact: Cornerstones Communications Limited Document: http://n.eqs.com/c/fncls.ssp?u=QRIFPBSXVC Document title: (334.HK)TCL_Display_Placing_Shares_Eng
03/06/2016 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. |