Jan. 25, 2011 (China Knowledge) - BOE Technology Group Co Ltd<000725
>, the largest liquid crystal display or LCD panel producer in China, will inject RMB 8.66 billion into its eighth generation TFT-LCD production project, according to a statement on Jan. 23 filed with the Shenzhen Stock Exchange.
The capital injection, of which RMB 8.5 billion worth of funds were derived from proceeds of BOE Technology's private placements last year, has been granted approval from BOE's board of directors on Jan. 20.
Upon the completion of the capital injection, BOE Technology will hold a 50.09% stake in Beijing BOE Display Technology, which will manage the project and had RMB 8.71 billion in net asset as of Sep. 30, 2010.
The 8G TFT-LCD project, which started construction in October 2009 and will cost RMB 28.03 billion in total, is in the process of testing, sources reported.