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Hon Hai Precision Industry ( (HNHPF) ) has provided an update.
Hon Hai Precision Industry has approved a series of intra-group equity transactions totaling USD 141.36 million each, aimed at strengthening its U.S. corporate structure and long-term investment holdings. Cloud Network Technology Singapore is increasing its stake in FII Holdings USA by acquiring 276,148 common shares for USD 141.36 million, taking its ownership in that entity to 21.64%, while another group entity, Cloud Network Technology Kft., continues to hold the remaining 78.36%. In a parallel move, FII Holdings USA is injecting the same amount into Cloud Network Technology USA, lifting its stake to 100% of that subsidiary, which in turn is using USD 141.36 million to acquire shares of Foxconn Assembly LLC. The coordinated, non-cash, related-party capital increases tighten Foxconn’s internal ownership chain over its U.S. operations, reinforce long-term control of key American manufacturing and assembly assets, and slightly increase its securities investment ratios without changing the group’s overall business model.
More about Hon Hai Precision Industry
Hon Hai Precision Industry Co., better known as Foxconn, is a leading global electronics manufacturing services provider, best known for assembling consumer electronics and IT hardware for major international brands. Through subsidiaries such as CLOUD NETWORK TECHNOLOGY and FII HOLDINGS, the group also structures and manages investments and operating entities in key markets including the United States, supporting its manufacturing, assembly and cloud-related hardware operations worldwide.
See more data about HNHPF stock on TipRanks’ Stock Analysis page.