Hon Hai Foxconn Industrial Internet will apply for the Shanghai Stock Exchange

Hon Hai (2317.TW), the global foundry company, announced on Wednesday night that the board of directors of Foxconn Industrial Internet Co., Ltd. through its subsidiary, initial public offering of RMB ordinary shares (A shares) and applied for listing on the Shanghai Stock Exchange.

Hong Kong Economic Times reported that Hon Hai still owns about 85% of the issued shares of the company when it plans to go public.

 
The announcement said that in order to tie in with the subsidiary Foxconn Industrial Internet, the Board authorizes the board of directors of subsidiary Foxconn or its authorized person according to the implementation of the listing plan, the opinions of the relevant government authorities and the listing laws and regulations, market conditions, or Subject to actual conditions of application adjustment, with full authority to deal with the issue of this issue, including but not limited to the appointment of professional advisers to determine the conditions for the issuance of this offering, the issue of the time, the number of issuers, issuers, distribution methods, pricing, issue price (Including the price range and the final pricing), the base date of issuance, whether to implement the strategic placement, the purpose of raising funds and all other issues with the issuance and listing.