Royal Philips Electronics announced yesterday that it has sold 24 million shares of common stock in LG Display to investors in a capital markets transaction.
This transaction represents 6.7 per cent of LG Display’s issued share capital and reduces Philips’ holding to 13.2 per cent.
The transaction will provide Philips with net proceeds of approximately €680m, and is expected to result in a non-taxable gain of approximately €95m in the first quarter of 2008, which will be recognised in financial income and expenses.
Philip’s says the transaction is in line with its structured strategy to further reduce it’s holding in LG Display.
Glasgow trial explores AR cues for autonomous road safety
They've ploughed into a few vulnerable road users in the past. Making that less likely will make it spectacularly easy to stop the traffic for...