SICHUAN Changhong Electrical Co, the listed unit of China's second-biggest television maker, plans to raise at least 2.5 billion yuan (US$323.57 million) to buy a plasma display panel maker from its parent.

The company may sell 400 million yuan-denominated shares for not less than 6.27 yuan each to 10 institutional investors, it said in a statement posted on the Shanghai Stock Exchange yesterday. The money will be used to buy a 75 percent stake in Dutch company Sterope Investments BV, which controls South Korean plasma-panel maker Orion PDP Co.

The Shanghai-listed unit will buy the stake from Sichuan Century Shuanghong Display Devices Co which is 80-percent controlled by its parent Changhong Group.

Source:佚名