HannStar to sell of LCD facility to Walton

The Board of Hannstar Display has already approved the transaction, which is aimed at funding working capital and repay debt. The company plans to sell up to 700 million shares in a private placement. HannStar is to sell of an unused production facility in Kaohsiung (Southern Taiwan)—the deal also includes the building itself and the property—to Walton Advanced Engineering. The latter already operates a facility in Kaohsiung. The deal is valued at around EUR 9.7 million (NT$ 415 million), media reports suggest.