Business Context and Reporting Period
This Form 6-K filing by LG.Philips LCD Co., Ltd. (now LG Display) covers the month of August 2004, specifically dated August 20, 2004. The company is a leading TFT-LCD manufacturer based in Seoul, Korea, with securities traded on the NYSE (LPL) and KSE (034220). The filing discloses a major managerial matter regarding the exercise of an over-allotment option following its recent initial public offering (IPO).
Key Financial Metrics and Transaction Details
- Transaction Type: Exercise of underwriters' over-allotment option.
- Shares Issued: 1,715,700 common shares (underlying shares) represented by 3,431,400 American Depositary Shares (ADSs).
- Issue Price: USD 30 per common share (USD 15 per ADS).
- Total Proceeds: US$51,471,000 (equivalent to approximately 59.5 billion Won at the exchange rate of 1,155.90 Won/USD).
- Payment Date: September 7, 2004.
- Total Outstanding Shares: 325,315,700 common shares after the transaction closes.
Material Changes Versus Prior Period
This filing does not report operational financial results (revenue, profit, or cash flow) for a specific fiscal period. The material change disclosed is the increase in the company's share capital and outstanding share count resulting from the partial exercise of the over-allotment option granted on July 15, 2004. The remaining portion of the over-allotment option (up to 3,744,000 shares total) expired and will not be exercised.
Guidance, Outlook, and Management Commentary
The filing contains no forward-looking guidance regarding revenue, earnings, or market outlook. Management commentary is limited to the confirmation of the transaction mechanics and the timeline for closing. The company stated it plans to promptly disclose resolutions from board meetings authorizing the issuance of these new shares. No specific risks or contingencies related to operations were detailed in this specific disclosure, other than the standard expiration of the unexercised portion of the option.
Key Facts for Investor Verification
- Verify the closing of the transaction on or around September 7, 2004, and the receipt of the US$51.5 million in proceeds.
- Confirm the updated total share count of 325,315,700 common shares in subsequent filings.
- Review the board of directors' resolutions authorizing the issuance of the new shares as promised by management.
- Note that the remaining over-allotment option was not exercised and has expired.