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Chunghwa Picture may be China investment target: Macquarie

Chunghwa Picture may be China investment target: Macquarie

Chunghwa Picture Tubes Ltd. may be the most likely among Taiwan's liquid-crystal-display makers to attract investment from China as the company has closer ties with the mainland than its peers, Macquarie Group Ltd. said.
The Taiwanese panel maker's holdings in China's Mindong Electric Group Co. and Xiamen Overseas Chinese Electronic Co. highlight Chunghwa's links with the mainland, Nicholas Teo and Joyce Wang, two Taipei-based analysts at Macquarie, wrote in a report yesterday. An investment would also fit with Chunghwa's plans to raise funds by selling stock, according to the report.
Chunghwa doesn't have plans to sell a stake to a Chinese company, James Wu, chief financial officer of Taoyuan-based display maker, said by telephone today. He declined to comment on "hypothetical questions" about the company's willingness to sell shares to a Chinese suitor.
Chunghwa has yet to complete a swap of four plants in China for a controlling stake in Mindong, Wu said. The Shenzhen-listed maker of electric generators said in January it will swap an 82 percent stake for the four LCD-module-assembly plants.


Updated : 2021-05-08 01:41 GMT+08:00