News

26 November 2009

 

LED maker Seoul raises $248m from Singapore’s sovereign wealth fund

Korean LED maker Seoul Semiconductor Co Ltd and its affiliate company Seoul Optodevice Co Ltd (which grows epiwafers and fabricates LED chips) have raised $248m in capital from Singapore’s sovereign wealth fund. Seoul Semiconductor issued 6.9 million shares at $33.565 per share for a total of $232m and Seoul Optodevice issued 2.7 million shares at $5.870 per share for a total of $16m.

Seoul Semiconductor and Seoul Optodevice say that the funds will be used to address the increased demand that is arising in part due to the improvements in efficiency and market acceptance of its Acriche AC-LED, as well as the firm’s patent cross-license agreement with Japanese LED maker Nichia Corp.

Seoul says that the infusion of capital is based on the business potential and growth opportunities in the lighting market. The ability to quickly and easily address expansion requirements with capital equipment and infrastructure will strengthen the firm LED manufacturing capabilities, it reckons.

According to market analyst firm IMS Research, Seoul Semiconductor is already the world’s fourth largest LED maker. The firm has 30 overseas operations, including three subsidiaries and 114 distributor locations worldwide.

Search: Seoul Semiconductor LEDs

Visit: www.acriche.com

Visit: www.socled.co.kr