TCL placing seeks 1.1b yuan

TCL Corp, the Shenzhen-listed parent of troubled TCL Multimedia Technology Holdings, is to raise up to 1.05 billion yuan through a private share placement to institutional investors, the company said.

Up to 650 million yuan of the funds raised will be invested in Hong Kong-listed TCL Multimedia, one of the world's top three television makers, according to a statement by the parent company to the Shenzhen Stock Exchange.

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