Global Mobile Raises $33.5 Million and Receives Chunghwa Telecom Investment

by Jeff Orr, Editor
Mobile Broadband News

The Dow Jones News Service is reporting that Taiwan WiMAX licensee Global Mobile said in a statement Wednesday it has raised NT$1.13 billion (US$33.5 million) for network deployment from nine new shareholders including Chunghwa Telecom.

Global Mobile was awarded one of six regional WiMAX licenses in an auction in late July. Its license covers Taiwan’s northern region. Chunghwa Telecom, Taiwan’s largest phone company by revenue, took part in the auction but failed to win a license.

Chunghwa Telecom has taken a stake of about 10% in Global Mobile through the fund-raising, said an unnamed Chunghwa Telecom official in a recent DigiTimes statement on ICT investments by the operator.

Global Mobile said its other shareholders include: computer games software developer Soft-World International, cable TV operator Videoland, chip designer Silicon Integrated Systems, brand networking equipment maker D-Link, WiMAX chip designer Davicom Semiconductor, China Development Financial Holding, construction firm Ruentex Development and electronic commerce services provider Com2B.

Global Mobile’s Chairwoman, Rosemary Ho, is also the chairwoman of Com2B. Global Mobile plans to ask its new shareholders to take part in another round of fund-raising in 2009, the company said.