Taiwan-based panel maker HannStar Display will issue up to 600 million new shares for either private placement or public offering to raise additional paid-in capital, according to a decision made by the company's board of directors on March 18.

The private placement will focus on introducing strategic investors, while the public offering will be through the Taiwan Stock Exchange with 10-15% reserved for company employees, or a GDR (Global Depositary Receipt) issuance, the company said.

The board also decided to add investment of US$60 million in HannStar Display (Nanjing), a subsidiary making LCD modules in Nanjing City, eastern China. Since HannStar suffered a net loss of NT$7.548 billion (US$237 million) in 2010, the board decided not to deal out any dividend.