VIA Technologies (TPE:2388) unit VIA Next Technologies' board approved a capital increase by capitalizing 2023 earnings, according to a Friday Taiwan Exchange filing.
Under the initiative, the company will issue 59.5 million new shares at a par value of NT$10 per share, totaling NT$595 million.
The allocation includes stock grants of 119 shares per thousand shares held by existing shareholders.
Proceeds will be used to boost working capital, and to strengthen the financial structure.
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