TCL Corporation is multinational consumer Electronics Company of China.
Image: company website
This company is headquartered in Huizhou, Guangdong Province in China and it develops, designs, manufactures and sells electronic products like mobile phones, washing machines, air conditioners, air dryers, television sets and small electrical appliances. It was twenty-fifth largest consumer electronics producer in the world in 2010.It was the third largest producer of televisions in the world based on market share.
TCL has three companies which are listed: TCL Corporation is listed on Shenzhen Stock Exchange, TCL Communication Holdings, Ltd & TCL Multimedia Technology Holdings, Ltd are listed on Hong Kong Stock Exchange.
TCL marketing and corporate line is “The Creative Life”. The Chinese communication equipment and smartphone maker TCL is currently offering HK$3.6 billion taking its handset unit private which is TCL Communication Technology Holdings Ltd. This is done because the low liquidity stock has made the fund-raising difficult.
In June 2016 it has planned TCL Corp’s 65 percent owned unit to private. It is awaiting its approval from regulators and shareholders. Through TCL Industries Holdings unit, its company TCL has agreed to offer HK$7.50 per share for all the outstanding shares, which are not already owned in TCL Communication. This was announced in a joint statement in June 2016. The price quoted represents 34.65 percent which is a premium over the company’s stock’s last closing price.
This announcement made the TCL Communication share prices up by 29 percent in stock market trading which is their biggest percentage gains in a single day since December 2008. The stock price soared to HK$7.21, the highest since June as compared to a 2.5 percent fall of the benchmark index.