Simple Mart Retail's (TPE:2945) subsidiary, OKmart, approved a cash capital increase through the issuance of 30 million shares at NT$10 apiece for NT$300 million, according to a Tuesday filing with the Taiwan Stock Exchange.
Around 90% of the shares will be reserved for existing shareholders, with the record date for capital increase set for Oct. 2.
Proceeds raised from the exercise will be used to strengthen working capital.