WiMAX operator Tatung InfoComm gains additional capital from parent company
Irene Chen, Taipei; Steve Shen, DIGITIMES [Thursday 11 June 2009]
Tatung Company, the parent company of WiMAX operator Tatung InfoComm, has spent NT$1.4 billion (US$42.6 million) to take up the 140,000 new shares released by Tatung InfoComm, boosting the WiMAX operator's capital from NT$1.1 billion to NT$2.5 billion, according to a statement released by Tatung.
The new capital will be sufficient for Tatung InfoComm to complete its first phase WiMAX network infrastructure buildup as well as initial operations, stated company president Peter Yen.
Tatung InfoComm may not be required to carry out its second capital expansion project until mid-2010, Yen indicated.