Wed, Oct 25, 2006 - Page 11 News List

TFT-LCD maker Innolux registers high IPO opening


Innolux Display Corp (群創光電), a flat-panel making unit of Hon Hai Group (鴻海集團), rallied by 33.67 percent on its debut on the main board yesterday, compared with a 0.81-percent increase in the TAIEX.

The stock price of Innolux Display rose up NT$13.80 to NT$54.80 after hitting a high of NT$60 in the earlier trading session yesterday, compared to the initial price of NT$41 for the sale of 200 million new common shares.

Innolux, 24 percent stake owned by Hon Hai Group, manufactures thin-film-transfer liquid-crystal-display (TFT-LCD) monitors, small- and medium- sized TFT-LCD modules for handsets and portable DVD players.

The flat-panel maker, established in 2003, returned to the black in the third quarter of this year, helping the company book NT$285 million (US$8.56 million)in net profits in the first nine months.

The company is targeting a market share of 40 to 45 percent by 2009, up from last year's 8 percent. It also expects to reach NT$100 billion in revenues this year, up from NT$51 billion last year and NT$4.3 billion in 2004. Shipments of LCD monitors are expected to hit up to 30 million units next year, up from 18 million units this year and 6.9 million units last year, the company said.

The gain in Innolux shares boosted stocks of other LCD monitor assemblers such as Lite-On Technology Corp (光寶科技), which rose 6.1 percent to NT$43.5.

Other makers of LCD panels came under pressure, with AU Optronics down 0.9 percent at NT$46.05 and Chi Mei Optoelectronics Corp (奇美電子) down 0.6 percent at NT$34.85.

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