Foxconn moves into e-business by taking up Alibaba IPO
Oct 30, 2007
Foxconn Electronics (Hon Hai Precision Industry) has announced that it bought 17.549 million shares in the Hong Kong initial public offering (IPO) of Alibaba.com, the leading China-based online B2B company, for about HK$237 million (US$30.6 million), or HK$13.50 per share.
Foxconn (Far East), an overseas subsidiary of Foxconn, helped carry out the investment for the parent company, said the company. The share purchase represents a 0.347% stake in Alibaba, according a filing Foxconn made with the Taiwan Stock Exchange (TSE).
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