Japan Display Said to Plan IPO With Government Control
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Japan Display Inc., which supplies liquid-crystal displays to Apple Inc., plans to raise as much as 200 billion yen ($2 billion) in an initial public offering with a government fund maintaining control after the IPO, according to a person with direct knowledge of discussions.
Government-backed Innovation Network Corp. of Japan will retain more than a third of the company, which will have a market value of as much as 800 billion yen, the person said, asking to not be identified as the matter is private. The IPO may take place before the end of March 2014 and some underwriters have been selected to oversee the sale, the person said.