TPK Holding Seeking Up To NT$7 Billion In Taiwan IPO - Source

Taiwan touch-screen maker TPK Holdings Co. (3673.TW) is seeking to raise up to NT$7 billion (US$227.5 million) in an initial public offering ahead of a listing on the Taiwan Stock Exchange on Oct. 29, a person familiar with the deal said Tuesday.

TPK, the main supplier of touch screens for Apple Inc.'s iPhone and iPad, plans to sell 28 million new shares in an indicative price range of NT$200-NT$250 each, said the person, who declined to be named.

The person said Government of Singapore Investment Corp. and a HSBC Holdings PLC private-equity fund bought about 6% of TPK's shares before the IPO. The shares will have a lock-up period, said the person, who didn't say how long they will be locked up for.

The company, whose main production facilities are in Xiamen, China, will use the IPO proceeds to fund capacity expansion to meet strong demand for its touch screens, the person said.

-By Lorraine Luk, Dow Jones Newswires; 8862-25022557;[e-mail]