Cando, a subsidiary of LCD panel maker AU Optronics (AUO), has announced a plan to issue new shares to raise NT$3.6 billion (US$118.5 million) for touch panel capacity expansion at the Central Taiwan Science Park (CTSP).

The board of directors of the company has also decided to invest an additional US$20 million in its touch module plant in Suzhou, China.

With more 4.5G capacity coming online, Cando's revenues in November-December are expected to continue to increase, market sources noted, adding that its largest client's plan to launch new products in the first quarter of 2011 will also help boost Cando's revenues.

Cando originally slated volume production at the new CTSP lines for the beginning of 2012, but the company is now accelerating the expansion project and volume production may begin sooner.