Electronics Production | June 18, 2007
Microsoft invests in TV maker
Microsoft is investing in shares of the Chinese TV maker Sichuan Changhong Electric.
Microsoft China is buying 15 million shares of China's Sichuan Changhong Electric, one of the mainland's largest television makers. The investment is worth $12 million and the shares will not be tradable for 36 months from the end of Changhong's non-public offering of 400 million shares. Changhong is raising 2.5 billion yuan ($320 million) to develop its plasma display panel (PDP) production line by selling 400 million shares for no less than 6.27 yuan each.