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TAIPEI - Foxconn (SS:601138) Industrial Internet Co., Ltd., a subsidiary of Hon Hai (TW:2317) Precision Industry Co., Ltd., has announced its intention to repurchase shares as a show of confidence in its future development prospects. The decision, made on Monday, is aimed at safeguarding shareholder interests and boosting investor confidence.
The company has outlined a repurchase plan that involves a centralized bidding transaction, with the total funds allocated for this purpose ranging from a minimum of RMB 500 million to a maximum of RMB 1 billion. The price per share for the repurchase will not exceed RMB 20.00. This initiative is expected to span a period not exceeding 12 months from the date it receives approval at the company’s shareholders’ meeting, which is scheduled for April 30, 2025.
The repurchased shares will be subsequently canceled in order to reduce the registered capital of the company, adhering to the relevant regulatory requirements. The source of the funds for this repurchase will be the company’s own finances.
This strategic move by Foxconn Industrial Internet reflects a broader trend among companies to utilize share buyback programs to manage capital structure and return value to shareholders.
The announcement was made in accordance with the rules and regulations of public company disclosures that impact shareholder rights and the pricing of securities. It is based on a press release statement and is intended to provide factual information without any promotional content.
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