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BUSINESS & TECH

Foxconn Industrial Now China’s Most Valuable Tech Firm Listed on Mainland

Foxconn Industrial Internet opens the Shanghai Stock Exchange on June 8, 2018.
Foxconn Industrial Internet opens the Shanghai Stock Exchange on June 8, 2018.

Foxconn Industrial Internet Co. Ltd., which makes cloud service equipment and industrial robots, has become China’s most valuable domestically listed tech company after its shares surged 44% in its trading debut in Shanghai on Friday.

Shares of Foxconn Industrial, a unit of the manufacturing giant Hon Hai Precision Industry Co. Ltd., rose 20% to 16.52 yuan ($2.58) during the pre-trading session on Friday morning. The stock surged further to notch a 44% gain as the market opened at 9:30 a.m., giving the stock a market capitalization of 390 billion yuan.

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