LG.Philips LCD, the world's top maker of liquid crystal displays (LCDs) for computers and TVs, plans to raise more than $1 billion in an IPO.
South Korea’s LG Electronics Co Ltd said on Thursday its joint venture with Philips Electronics NV of the Netherlands planned to list within five months in New York and Seoul.
LG.Philips LCD will use the IPO proceeds to pay for new factories, after saying last month it would invest $21 billion over the next 10 years to capitalise on booming demand for big screen TVs.
The venture generated a net profit of 398 million euros ($473 million) on sales of 1.54 billion euros in the fourth quarter.
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