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Everdisplay to raise funds for AMOLED capacity expansion

China-based panel maker Everdisplay Optronics plans to raise as much as CNY8 billion (US$1.219 billion) through an IPO issue to fund the building of a new 6G AMOLED display production line, according to industry sources.

The panel maker has applied to list on Shanghai's STAR securities market.

The expansion project is being planned in response to rising demand for AMOLED, and some major clients' requests that it ready enough production scale to fulfill large-volume orders, said the sources.

The company currently operates two AMOLED fabs: a 4.5G line and a 6G line, both having 15,000 substrates in monthly capacity.

The planned new 6G line will also have a capacity of 15,000 substrates, and is slated for completion within 18 months, although it has yet to set a date for the groundbreaking, the sources indicated.