Hua Eng Wire & Cable increases holdings in APBT

Taiwan-based cable maker Hua Eng Wire & Cable has taken up an additional 2.18% stake, or 71.5 million shares, in 3G carrier Asia Pacific Broadband Telecom (APBT) for NT$359 million (US$11.14 million) or NT$5.03 per share.

With the newly purchased shares, Hua Eng now holds a 3.1% stake in APBT, making it the fourth largest shareholder in the carrier.

APBT posted pre-tax profits of NT$730 million for the first nine months of 2009.

source