Fibocom to supplement working capital with CNY 80m in idle funds

Fibocom Wireless (SZSE:300638) announced its plan to supplement working capital with up to CNY 80 million of idle funds from its non-public offering, according to a recent filing. The decision was approved at the Fourth Board of Directors meeting and comes with the backing of GF Securities Co., Ltd., the company's sponsor. Fibocom intends to use the funds for operations related to its core business activities and expects to save approximately CNY 2.48 million in financial expenses based on the current Loan Prime Rate.