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Foxconn's unit targets raising $4.3 billion in biggest China IPO since 2015

At about $43 billion, the unit's valuation would not be far behind parent company Foxconn's market capitalisation of about $49 billion

Reuters  |  TAIPEI/SHANGHAI 

Foxconn Industrial Internet, a subsidiary of the world's largest contract manufacturer Foxconn, announced plans to raise up to 27.1 billion yuan ($4.26 billion) in what will be mainland China's biggest IPO in almost three years. The Foxconn unit, which is known as FII and makes electronic devices, cloud service equipment and industrial robots, is offering up to 1.97 billion shares at 13.77 yuan per share in Shanghai, according to a statement it filed to the stock exchange late on Tuesday. With 10 percent of its enlarged capital offered in the initial public offering ...

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First Published: Thu, May 24 2018. 02:30 IST
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