Vibo Telecom, one of the four 3G mobile telecom carriers in Taiwan, has expanded its paid-in capital by 21.11% from NT$11.84 billion (US$393 million) to NT$14.34 billion through issuing new shares. Kinpo Electronics and Compal Electronics, Vibo's two largest shareholders, each subscribed to over 40% of the new shares, according to Vibo.
This is the second time in 2013 Vibo has issued new shares to raise its paid-in capital, the company indicated.
While Vibo invested significantly in upgrading its networks in 2011 and 2012, capex in 2013 is expected to decrease to NT$1.0-1.5 billion, the company noted.
Although Vibo will not participate in open-bids for a 4G mobile communication license, the company is open to cooperation with 4G licensees.
Article translated by Adam Hwang
