Foxconn Electronics (Hon Hai Precision Industry) at its shareholders meeting on June 8, decided to issue 880 million new shares specifically for issuing global depositary receipts (GDR), with the funds to be used in the development of new technologies and business areas as well as acquisitions, according to the company.

Foxconn originally planned to issue 430 million new shares to raise additional capital but adjusted the volume because shareholders at the meeting recommended a larger fund-raising amount.

In additional news, Foxconn Group chairman Terry Guo, in response to questions on how he views the general business prospects for the second half of 2010 after the shareholders meeting, said that it will be stable with some potential risks.

By: DocMemory
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