Hon Hai Precision Industry (HNHPF) has released an update.
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Hon Hai Precision Industry’s subsidiary, Foxconn Singapore Pte Ltd, has acquired a significant stake in Foxconn Hon Hai Technology India Mega Development Private Limited, amounting to approximately 1.2 billion shares valued at USD 144 million. This strategic transaction, which boosts Foxconn Singapore’s shareholding to nearly 100%, is aimed at long-term investment. The deal, which now represents 2.39% of total assets and 5.37% of owner’s equity, was internally funded and unanimously agreed upon by the board on August 21, 2024.
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