TPV Technology, the world’s biggest contract manufacturer of computer monitors, was suspended from trading in Hong Kong and Singapore as the company plans to issue new shares and may announce a buyout offer.

TPV applied for the trading halt pending an announcement “in relation to a proposed issue of new shares and possible mandatory conditional cash offer,” it said in a filing to the Hong Kong stock exchange today. The company received approaches from new investors, Director Eddie Chen said by phone today.

TPV, part-owned by Royal Philips Electronics NV of the Netherlands and Chi Mei Optoelectronics Corp., almost doubled in Hong Kong trading last year as the global economic recovery helped boost demand for personal computers. The company is also increasing investment in production of liquid-crystal-display televisions to meet rising demand for the products.

Chi Mei, Taiwan’s second-biggest LCD maker, last year said it will merge with Innolux Display Co., named by Citigroup Inc. as TPV’s biggest competitor in the monitor market. Chi Mei plans to keep its stake in TPV, said Chen, who is also spokesman for the Taiwanese shareholder. Chi Mei owns a 7.1% stake in TPV, according to Bloomberg data.

TPV rose 1.7% to HK$4.88 (88 cents) in Hong Kong yesterday, while the company’s Singapore-listed shares last changed hands at 83 cents on Jan 27, according to Bloomberg data.