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Fiberhome Telecom Q3, to Raise RMB 540m
Telecom equipment provider Fiberhome Telecommunication Technologies (600498.SH) recorded net profit of RMB 59.05 million in the third quarter of 2009, up 48.98% year-on-year, the company announced October 29. Third quarter revenue stood at RMB 1.34 billion, up from RMB 825.15 million in the year-ago period.
In the first nine months, company revenue reached RMB 3.29 billion, compared to RMB 2.14 billion in the year-ago period, while net profit rose to RMB 200.84 million in the first nine months from RMB 134.81 million in the same period of 2008.
Fiberhome Telecommunication Technologies has received approval from China Securities Regulatory Commission to issue up to 31.8 million shares priced to seven investors, netting RMB 537.95 million, the company announced October 28. The Fiberhome board has approved a plan to use RMB 86.65 million of the funds to invest in three projects that are currently under construction and establish an opto-electric material company.
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