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SHANGHAI - Foxconn (SS:601138) Industrial Internet Co., Ltd., a subsidiary of Hon Hai (TW:2317) Precision Industry Co Ltd, has completed a share repurchase program, as announced on Thursday. The company repurchased 9,462,623 of its own shares from December 2024 to January 2025 on the Shanghai Stock Exchange through centralized competitive bidding transactions.
The share repurchase, which accounts for 0.05% of the company’s total share capital, involved transactions at prices ranging from RMB 19.50 to RMB 22.74 per share. The total investment for this buyback was RMB 203,007,423.29, excluding transaction fees.
Following the completion of the repurchase, the company has declared that the acquired shares will be cancelled on February 7, 2025, at the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. The cancellation of the shares will lead to subsequent legal formalities, including changes in business registration.
The repurchase plan has achieved the minimum amount set by the company and has been fully executed. Foxconn Industrial Internet has not indicated any specific countermeasures following the share repurchase, and no further details have been provided that would necessitate additional disclosure under the Securities and Exchange Act Enforcement Rules.
This share repurchase and cancellation is a financial maneuver that can affect the distribution of shares and potentially impact the share price. However, the company has not disclosed any information that would suggest a significant impact on shareholder rights or securities pricing.
The information regarding this financial activity is based on a press release statement from the London Stock Exchange (LON:LSEG)’s news service RNS and adheres to the Financial Conduct Authority’s regulations in the United Kingdom (TADAWUL:4280).
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