TCL Corp. to raise $133 mln in private placement

SHANGHAI, Oct 27 (Reuters) TCL Corp. said on Friday it will issue additional A-shares to raise 1.05 billion yuan (3 million) in a private placement to inject funds into its units and boost working capital.

TCL hopes to issue the shares in a placement to no more than 10 fund management companies, brokerages, insurers, investment firms and other institutional investors, it said in a statement.

Of the amount raised, 650 million yuan will go to unit TCL Multimedia Technology Holdings Ltd. , 150 million yuan to TCL Communication Equipment Share Co. Ltd. , with the rest, or 250 million yuan, as working capital.

Reuters DKS VP0640