(Corrects planned listing date to March 19, not March 10, in
TOKYO Feb 14 Japan Display Inc,
the world's biggest maker of screens for tablets and
smartphones, gained approval for a Tokyo listing next month in
an offering expected to be worth up to 409 billion yen ($4
The deal will enable the government-backed fund that
engineered its turnaround to recoup some of its investment.
Japan Display said existing shareholders will sell 213.9 million
The screen maker, a supplier to Apple Inc and
Samsung Electronics Co Ltd, is also issuing 140
million new shares to raise funds for plant and equipment,
hoping to raise some 154 billion yen ($1.51 billion).
There will also be an overallotment of up to 18 million
It set a tentative IPO price of 1,100 yen. It plans to list
on March 19.
The company was formed in 2012 from the display units of
Hitachi Ltd, Sony Corp and Toshiba Corp
($1 = 102.1650 Japanese yen)
(Reporting by Sophie Knight; Editing by Edwina Gibbs)