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Foxconn's unit plans Shanghai IPO, raising capital to upgrade production, projects

Reuters  |  HONG KONG 

HONG KONG (Reuters) - Foxconn Industrial Internet Co Ltd, an internet and industrial-focused unit of Taiwan's Foxconn, filed an application on Monday for an initial public offering in Shanghai to raise capital to upgrade production and for 5G related projects.The unit, which makes electronic devices, cloud service equipment and industrial robots, plans to issue up to 1.97 billion A-shares, or 10 percent of its enlarged issued share capital, at a price to be determined, the preliminary prospectus showed. It gave no dollar value on the amount to be raised.The Foxconn unit, which serves clients ...

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First Published: Mon, May 14 2018. 08:51 IST
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