Taiwan touch-screen maker raises $200M in IPO
TPK Holding Co., a supplier of touch screens for Apple's iPhone and iPad tablet computer, has raised $200 million from its initial public offering, the largest in Taiwan this year.
The company's shares will start trading Friday on the Taiwan stock market.
Proceeds of the IPO will be used to expand the capacities of TPK's assembly lines in China to meet rapidly growing world demand, company officials said.
TPK Chairman Michael Lin said monthly capacity for the company's 10-inch glass-based touch screens will rise to 3 million by June 2011 from the current 1.2 million.
Its 3.5-inch glass-based and film-based touch screens will rise to 10 million and 3 million respectively from the current volumes of 7 million and 1.2 million, he said.
The company's touch screen business took off after Apple launched its iPhone in 2007 and expanded further after the iPad went on sale earlier this year.
TPK also supplies touch screens to smart phone makers, including HTC Corp., Samsung Electronics Co., and LG Electronics Inc.