Japan LCD firm raises $3.2B from offering

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TOKYO: Japan Display, the world’s biggest maker of screens for smartphones and tablets and a key supplier to Apple, said on Monday it had raised $3.2 billion in an initial public offering ahead of a listing later this month.

An official filing said its offering would be priced at 900 yen per share, at the low end of expectations, with the stock to start trading in Tokyo on March 19.

Earlier this month, the liquid crystal display maker said it would sell 140 million new shares between 900 yen and 1,100 yen, while its major private shareholders would offload 213.9 million shares.

Pricing at the low end of the range would suggest investor caution, but the firm said demand was strong.


AFP

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