AOpen reduces capital 40%
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AOpen plans to downsize its capital by 40% to NT$1.56 billion (US$50 million) in an attempt to overcome huge losses from its ODD manufacturing business and improve its financial structure, according to the company in a May 8 filing with the Taiwan Stock Exchange (TSE). I didn’t even know that AOpen was hurting!
Although AOpen continued to suffer a loss mainly due to its ODD division, the loss decreased from NT$1.16 billion in 2005 to NT$45 million in the first quarter of this year. Later this year, AOpen will schedule a necessary capital expansion, the company added.
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