Caixin
Feb 12, 2018 06:21 PM
BUSINESS & TECH

Foxconn Parent Applies for Shanghai Listing of Internet Unit

A Foxconn cellphone factory production line is seen in Zhengzhou, Henan province, on Dec. 7. Hon Hai Precision Industry Co. Ltd., which trades as Foxconn, hopes to use the money it raises by listing a major unit on the Shanghai Stock Exchange to develop technologies such as 5G and the internet of things. Photo: VCG
A Foxconn cellphone factory production line is seen in Zhengzhou, Henan province, on Dec. 7. Hon Hai Precision Industry Co. Ltd., which trades as Foxconn, hopes to use the money it raises by listing a major unit on the Shanghai Stock Exchange to develop technologies such as 5G and the internet of things. Photo: VCG

Hon Hai Precision Industry Co. Ltd., which trades as Foxconn, has applied to list one of its major units in Shanghai, tapping into the mainland’s capital market as the manufacturing giant aims to move away from its traditional base.

Foxconn Industrial Internet Co. Ltd. will list in the Shanghai Stock Exchange and issue new shares equivalent to 10% of its total shares, Hon Hai said in an application prospectus published on the China Securities Regulatory Commission’s website on Friday.

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