Innovation |

Apple Supplier Hon Hai Plans $310 Million GDR Sale

Hon Hai - Foxconn

Hon Hai Precision, a major supplier of Apple, is set to raise about T$93 billion ($310 million) via selling new shares to foreign investors for its expansion overseas and into Taiwan’s developing 4G telecom market, a local paper reported on Monday.

Hon Hai is planning to ask shareholders at its AGM in June for approval of the share sale, with the company planning to sell up to 1 billion new shares via global deposit receipts (GDR), the Economic Daily News said.

Hon Hai shares closed at T$93 on Friday.

Reuters

Ivan Castilho
About the Author

Ivan Castilho is an entrepreneur and long-time Apple user since 2007, with a background in management and marketing. He holds a degree in Management and Marketing and multiple MBAs in Digital Marketing and Strategic Management. With a natural passion for music, art, graphic design, and interface design, Ivan combines business expertise with a creative mindset. Passionate about technology and innovation, he enjoys writing about disruptive trends and consumer tech, particularly within the Apple ecosystem.

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