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Xerox' PARC buys more of Thin Film Electronics.

M2 EQUITYBITES-October 30, 2013-Xerox' PARC buys more of Thin Film Electronics(C)2013 M2 COMMUNICATIONS

30 October 2013 - US business process and document management group Xerox Corp (NYSE:XRX) on Wednesday said its portfolio company PARC had bought additional 437,911 shares in Thin Film Electronics ASA (OTCMKTS:TFECF) increasing its holding in the Norway-based printed system products firm to 2.9m shares.

The Thin Film stock was acquired via a private placement at NOK5.475 (USD0.93/EUR0.68) subscription price per unit, equal to the average closing over the ten trading days to 16 October, the buyer said.

The issue of new shares was authorised by Thin Film's board in May.The additional Thin Film stock bought by PARC has a value of NOK2.4m in total, the buyer explained.

Thin Film, which has product development in Sweden, sales offices in the US and Japan and manufacturing in South Korea, creates printed systems that include memory, sensing, display and wireless communication.

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Publication:M2 EquityBites (EQB)
Date:Oct 30, 2013
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