Japan's LCD screen giant plans $2.5b listing: Reports
TOKYO (AFP) - Japan Display, the world's biggest maker of LCD screens for smartphones and tablet computers, plans to raise US$2 billion (S$2.5 billion) in an initial public offering, reports said on Friday.
The IPO would be the biggest on the Tokyo Stock Exchange so far this year after drinks giant Suntory's food-and-beverage unit raised US$3.9 billion.
The Japanese liquid crystal display maker, whose clients include Apple and Sony, would raise as much as 200 billion yen (S$2.5 billion) from a share sale that would give it a market value of 700-800 billion yen, Dow Jones Newswires quoted a source with knowledge of the deal as saying.
The IPO is expected during the fiscal year to March 2014, Dow Jones and the leading Nikkei business daily reported.