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TAIPEI - Hon Hai (TW:2317) Precision Industry Co. Ltd. announced Tuesday that its subsidiary CyberNet Venture Capital Corp. will invest $20 million in China Renewable Power Infrastructure LPF, a private equity fund.
The investment represents a 3.08% stake in the fund, according to a company statement released through the London Stock Exchange (LON:LSEG)’s news service.
The transaction, classified as a long-term investment by the company, accounts for approximately 0.35% of Hon Hai’s total assets and 0.78% of the parent company’s shareholder equity based on its latest financial statements.
Hon Hai, better known internationally as Foxconn (SS:601138), stated that the investment decision was made by its board of directors. The company noted that completion of the transaction remains subject to fulfillment of certain conditions precedent, including obtaining approvals from relevant regulatory authorities.
The company reported no restrictions on rights associated with the investment and confirmed that the trading counterparty is not a related party to Hon Hai.
The announcement, made through a regulatory filing, provided no additional details about the China Renewable Power Infrastructure fund’s investment strategy or portfolio focus beyond its name suggesting involvement in renewable energy infrastructure.
Hon Hai’s operating capital stood at negative NTD 252,428,890,000 according to its latest financial statements referenced in the press release.
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