Taiwan-based 3G mobile telecom carrier Vibo Telecom will downsize its paid-in capital by 65.55% from NT$19.534 billion (US$647 million) currently to NT$6.73 billion and then add paid-in capital of NT$3 billion, according to company CEO George Chou.

The Kinpo-Compal Group, the largest shareholder of Vibo, has approved the planned addition of paid-in capital, Chou indicated.

Vibo has submitted related documents to the authorities and hopes to finish capital downsizing and expansion by the end of 2011, Chou said.