BOE Technology Group Co Ltd. announced plans to raise an estimated CNY46 billion or US$7.5 billion in what is tagged as the Chinese equity offering of the year.  The company said that they will used the funds raised in the offering for the construction of high-generation panel production lines and for the acquisition of shares in a joint venture named BOE Display Technology.

BOE Technology Group Co Ltd. will offer 9.5 to 22.4 billion worth of share with a price tag of CNY2.10 per share through private placement. The company said that they are expecting to raise at least CNY37.5 billion in cash.

Local government-owned companies are expressing their support to BOE Technology Group Co Ltd.'s fund raising activities. Three companies agreed to buy a combined CNY20.83 billion worth of shares. Assets Management, a Beijing state-owned company, said that they will exchange 48.32% stake in BOE Display Technology to subscribe CNY8.53 billion shares. Hefei Jianxiang Investment announced that they will buy CNY6 billion worth of shares via cash or through a debt to equity exchange. Chongqing Yuzi said that they will take up CNY6.3 billion worth of shares, which will be paid in cash.