BOE Technology Group Co. Ltd has entered into shareholder agreement with Chengdu Industry Investment Management Co. Ltd and Chengdu Hi-tech Investment Group Co. Ltd to jointly establish a company for 4.5-generation TFT-LCD production lines.
The new company, called Chengdu BOE Optoelectronics Technology Co. Ltd, will mainly manufacture TFT-LCD modules below 14.1 inches with registered capital of $6.6 million. Under the agreement, BOE, Chengdu Industry, and Chengdu Hi-tech will respectively invest for 18.18 percent, 50 percent, and 31.28 percent, respectively of the registered capital.
On September 26, shareholders of Shenzhen-listed BOE approved proposals on the construction of the 4.5-generation TFT-LCD production lines and the A-share private placement. After the private placement, BOE will increase its investments in Chengdu BOE while the other two companies have agreed to give up their priority rights to raise investments, the publicly traded company said in a statement on October 8. Thus, BOE will become the controlling shareholder of Chengdu BOE by then. (52RD.com) |
