Chunghwa Telecom to downsize capital by 20%
Chunghwa Telecom (CHT) will reduce its paid-in capital by 20% from NT$96.968 billion (US$3.04 billion) to NT$77.574 billion, returning NT$19.394 billion to shareholders at NT$2 per share, CHT's board of directors decided on March 30.
This is the fourth time that CHT has reduced its paid-in capital in its history, the company noted.
CHT said its board of directors also decided to add investment of US$45 million in Donghwa Telecom, CHT's wholly-owned subsidiary in Hong Kong, to fund its participation in the construction of the Southeast Asia Japan Cable (SJC).
According to industry sources in Taiwan, SJC is a new submarine cable system to link Singapore, Hong Kong and Japan with other Asian countries at a design capacity of 17Tbps (terabit per second), and can be a backup route for CHT.
This is the fourth time that CHT has reduced its paid-in capital in its history, the company noted.
CHT said its board of directors also decided to add investment of US$45 million in Donghwa Telecom, CHT's wholly-owned subsidiary in Hong Kong, to fund its participation in the construction of the Southeast Asia Japan Cable (SJC).
According to industry sources in Taiwan, SJC is a new submarine cable system to link Singapore, Hong Kong and Japan with other Asian countries at a design capacity of 17Tbps (terabit per second), and can be a backup route for CHT.
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