AU fundraising spurs share rally, seen signaling demand for panels
TAIPEI (Reuters) – AU Optronics’ plans to raise as much as $350 million in an overseas share issue sparked a surge in its shares, signaling that strong demand for high-definition displays in tablets and TVs is breathing new life into the loss-making panel maker’s fortunes. Shares in the Taiwanese company, which supplies screens for Apple Inc’s iPad mini, surged their 7 percent daily limit for a second day in a row on Tuesday after it announced plans to sell 640 million to 800 million shares as American depositary receipts (ADRs). . . .
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