Vibo Telecom to issue convertible bonds

Vibo Telecom, one of five 3G mobile telecom carriers in Taiwan, will issue five-year convertible bonds to raise an estimated NT$3.49 billion (US$107 million) for private placement, with existing shareholders to be target subscribers, according to the company.

Vibo Telecom's shareholders at their 2009 meeting on June 26 approved the fund-raising plan, the company indicated.

According to a Chinese-language Economic Daily News report, Singapore-based StarHub and Korea-based SK Telecom are interested in investing in Vibo through the private placement, however, StarHub has denied the report saying it has not spoken nor shown any interest in the private placement.