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PC maker will float new shares in South Korea

(Shanghai Daily)
Updated: 2007-06-11 09:35

Founder Technology Group plans to float shares on the South Korean stock market by the end of this year, the Oriental Morning Post reported on Friday, citing company sources.

The country's No. 2 personal computer maker aims to raise funds to finance expansion in the printed circuit broad market, industry insiders said.

Founder, which is already listed in Shanghai, declined to comment on the issue after the newspaper reported that company President Qi Dongfeng said an initial public offering in South Korea could come by the end of 2007.

Previous reports said Founder wants to list its Japanese subsidiary on the Tokyo Stock Exchange this year.

To improve its profit margin and diversify business, Founder has invested 1.5 billion (US$194 million) in its printed circuit board business.

The company has built a personal-computer manufacturing plant in Suzhou in east China's Jiangsu Province and plans to increase production capacity 50 percent to six million units a year.