Taiwan Star Cellular looking to boost paid-in capital via new share issue

28 Feb 2014

Taiwan Star Cellular Corp, which emerged from the country’s October 2013 4G auction with a 10MHz block of spectrum in the 900MHz band, will reportedly issue 1.2 billion new shares with a view to increasing its paid-in capital by TWD12 billion (USD399 million) to TWD20 billion. According to the Digitimes, Taiwan Star, a subsidiary of the Ting Hsin International Group, will reserve 10% of the new shares for employees, while the remaining 90% will be set aside for existing shareholders. Should any new shares go unsold, the company could authorise its chairman to initiate discussions with target investors for a private placement.

Taiwan, Taiwan Star Cellular (T STAR)