SEOUL: LG Philips LCD Co, the world’s largest maker of liquid crystal displays, plans to raise more than US$1bil from an initial public offering in the third quarter, to help finance construction of new factories.
The joint venture of South Korea’s LG Electronics Inc and Royal Philips Electronics NV of the Netherlands would sell existing and new shares for trading here and New York, LG Electronics said in a filing with the Korea Stock Exchange. Morgan Stanley and UBS AG are managing the sale.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
