Having excited tech bankers and domestic investors since the end of last year, the large size TFT-LCD or flat screen panel sector as it is otherwise known, will come under the scrutiny of international equity investors for the first time over the next month.
UMC is likely to set the ball rolling within the next two weeks after revealing plans for an exchangeable into AU Optronics, Taiwan's leading producer of TFT thin film transistor panels used as the display screens for notebooks and increasingly LCD monitors and televisions. With Lehman Brothers as lead manager, local bankers report that the semiconductor giant has decided to cash out at a fortuitous peak in the cycle...
