Philips Electronics will boost its stake in TCL by about US$25 million, raising its ownership from 2.46% to 7.46%, the Wall Street Journal reported. The announcement comes as the Shenzhen-listed television and mobile-phone maker transforms its nontradable shares into tradable form. Philips would purchase 129.3 million currently nontradable shares from TCL's largest shareholder, state-owned firm Huizhou Municipal Investment Holding, at US20 cents a share. The share-overhaul program would raise the actual per-share price to US23 cents.
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