DocMemory
 
Home
News
Products
Shop
Memory
Corporate
Contact
 

News
Industry News
Publications
CST News
Help/Support
Member Area
Tester Brochure
Demo Library
Software
Tester FAQs

biology medicine news product technology definition

Wednesday, April 25, 2018
Memory Industry News
Email ArticlePrinter Format PreviousNext

Foxconn to raise $4 billion through Shanghai subsidary IPO


Tuesday, February 13, 2018

Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, said it plans to use proceeds from a Shanghai listing of one if its subsidiaries to fund eight projects totalling 27.3 billion yuan ($4 billion).

In January, Foxconn, formally known as Hon Hai Precision Industry Co, said its shareholders had approved a plan to list its subsidiary, Foxconn Industrial Internet Co Ltd (FII), on the Shanghai Stock Exchange.

FII said in a listing prospectus to the China Securities Regulatory Commission late on Friday that the eight projects were focused on building smart manufacturing platforms, cloud computing services and 5G solutions.

FII, which makes electronic devices, cloud service equipment and industrial robots, did not provide details on the size or timing of the initial public offering.

A Hon Hai unit, China Galaxy Enterprises Limited, directly and indirectly owns 69 percent of FII that was founded in March 2015, according to the prospectus.

China International Capital Corporation is the sponsor and lead underwriter for the IPO.

FII made a net profit of 16.2 billion yuan in 2017, according to the filing, representing a compounded annual growth rate of 6.32 percent from 14.4 billion yuan in 2015.

Revenue reached 354.5 billion yuan last year, representing an annual growth of 14 percent from 2015.

FII said its main clients include Amazon, Apple, ARRIS, Cisco, Dell, HPE, Huawei, Lenovo, NetApp, Nokia and nVidia.

By: DocMemory
Copyright © 2018 CST, Inc. All Rights Reserved

Email ArticlePrinter Format PreviousNext
Latest Industry News
Micron to expand Taiwan fab.4/25/2018
SK Hynix warns on mobile chip prospect4/25/2018
Regardless of heavy investment, Chinese IC companies still way behind in valuations4/25/2018
IoT is now taking most of the 8" wafer capacity4/25/2018
China's integrated circuit industry grew 21 percent per year4/24/2018
Scientist claim successful integration of optical circuitry with microprocessor4/24/2018
Toshiba sales runs into road block with Chinese regulators might change its course4/24/2018
Toyota laid out plans to add V2V communications in its cars4/24/2018
Samsung expands production in Vietnam4/23/2018
Nexperia, now a Chinese company, managed to raise $800 million4/23/2018

CST Inc. Memory Tester DDR Tester
Copyright © 1994 - 2018 CST, Inc. All Rights Reserved