Philips to become largest shareholder in Hong Kong-listed TPV - report |
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Fri, 19 Jan 2007 02:38
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HONG KONG (XFN-ASIA) - Computer monitor maker TPV Technology will see Royal Philips Electronics NV become its largest shareholder as BOE Technology Group of China, which currently owns the biggest stake in TPV, plans to sell about half of that for up to 1.1 bln hkd, the South China Morning reported, citing market sources.BOE, a flat-panel display maker, is offering investors 200 mln TPV shares, or a 10.3 pct stake, at between 5.30-5.50 hkd each, the report said.After the sale, Philips will become TPV's largest shareholder with a 13.6 pct stake, followed by BOE's 11.56 pct.It said UBS is the sole coordinator of the deal.(1 usd = 7.8 hkd)leonora.walet@xfn.com
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