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Foxconn Parent Plans Shanghai IPO for Mainland Internet Unit

Foxconn parent Hon Hai Precision Industry Co. Ltd. has listed a number of its major units, such as Foxconn Interconnect Technology Ltd., outside of Taiwan. The listing of Foxconn Interconnect, which took place in Hong Kong, raised $342 million. Photo: Visual China
Foxconn parent Hon Hai Precision Industry Co. Ltd. has listed a number of its major units, such as Foxconn Interconnect Technology Ltd., outside of Taiwan. The listing of Foxconn Interconnect, which took place in Hong Kong, raised $342 million. Photo: Visual China

Taiwan’s contract manufacturing giant Hon Hai Precision Industry Co. Ltd., one of Apple Inc.’s main manufacturing partners, said it is planning to separately list one of its mainland-based units in Shanghai, aiming to tap capital markets on the other side of the Taiwan Strait.

The plan would see Foxconn Industrial Internet Co. Ltd. apply for a listing on the Shanghai Stock Exchange, Hon Hai said in a statement on Wednesday, which announced its board’s approval of the plan. It did not provide any additional information on the size of the offering, the timing, or how many shares it plans to issue.

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