Foxconn Electronics report it will invest an additional US$349 million in its component manufacturing subsidiaries in China, and will issue unsecured convertible bonds with total amount not to exceed NT$12 billion (US$395.71 million) to expand its operating funds and pay off short-term loans.

The investments in China will cover subsidiaries that manufacture products such as tablet PCs, handsets, cables, connectors, handset components, routers and printed circuit boards (PCBs).

Prior to the US$349 million investments, Foxconn also announced investments of US$260 million to its China subsidiaries in October. Commenting on Foxconn's frequent investments in China, some market watchers believe that the decisions could be because clients have been adjusting their shipment targets; therefore, Foxconn will need to increase investment in order to make needed changes.

In addition to the unsecured convertible bonds, Foxconn also issued unsecured euro convertible bonds (ECBs) in October to raise US$1 billion.

By: DocMemory
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