Stocks News
- TCL Corp. to invest in stock market
Date: 18-Sep-2007 Sources: (Shenzhen Daily)
TCL Corp. said yesterday it plans to invest up to 1 billion yuan (US$132.28 million) of its own fund in the stock market, mainly subscribing to initial public offerings (IPOs) by other companies.
Shenzhen-listed TCL Corp. said in a statement that by purchasing new shares in IPOs, the company could expect an average annual investment return of 15 percent or above, much higher than that offered by the one-year bank deposit rate of 3.87 percent. In addition, it said it will establish a financial settlement center, which will take charge of the investment.
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