Chimei Innolux Corporation : Chimei Innolux To Seek Up To NT$15 Billion In Convertible Bonds
05/15/2012| 05:48am US/Eastern
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Liquid crystal display maker Chimei Innolux Corp. (3481.TW) said Tuesday it would seek up to NT$15 billion ($508.4 million) via the issuance of convertible bonds domestically or overseas, to fund material procurement and repay debts.
Chimei Innolux, the world's third-largest producer of LCD panels by revenue after Samsung Electronics Co. and LG Display Co., said in a statement it hasn't decided on the currency denomination of the bonds.
The company on April 30 reported a first-quarter net loss of NT$12.77 billion. Analysts say its losses may narrow in the second quarter amid a gradual recovery in panel prices.
-By Aries Poon, Dow Jones Newswires; 886-2-25022557; aries.poon@dowjones.com
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