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TAIPEI - Hon Hai (TW:2317) Precision Industry Co., Ltd., also known as Foxconn (SS:601138), has announced a series of share acquisitions involving its subsidiaries on Tuesday, totaling an investment of USD 300 million. The transactions include the acquisition of shares in Execustar International Limited, Proper Charm Limited, Chief Expertise Limited, Fushan Technology (Vietnam) Limited Liability Company, Foxconn Interconnect Technology Singapore Pte. Ltd., and Fu Wing Interconnect Technology (Nghe An) Limited.
Each of the six transactions involved the purchase of shares at USD 1 each, with the total number of shares acquired in each deal amounting to 35,768,000, except for the Foxconn Interconnect Technology Singapore Pte. Ltd. acquisition, which involved 150 million shares. The cumulative monetary amount held by Hon Hai in these subsidiaries now stands at USD 2,176,509,441, reflecting a 100% shareholding percentage in each entity.
The board of directors approved the transactions on the same day, and the company has stated that the investments are meant for long-term strategic purposes. The funding for these acquisitions comes from private capital, and no brokers or broker’s fees were involved.
In terms of financial impact, the investments represent 2.06% of Hon Hai’s total assets and 4.55% of the owners’ equity according to the most recent financial statement. The company’s operating capital is reported at NTD-252,428,890,000.
The transactions between Hon Hai and its subsidiaries are part of a broader strategy to strengthen its investment portfolio. The company has emphasized that these acquisitions do not involve any change in the business model and that there were no dissenting opinions from directors regarding the transactions.
These acquisitions are in line with the company’s long-term investment strategy and are expected to contribute to the overall growth and diversification of Hon Hai’s business interests. This information is based on a press release statement.
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