Taiwan's Hon Hai to announce 3 major initiatives -report
TAIPEI, Aug 6 (Reuters) - Hon Hai (2317.TW), Taiwan's biggest electronics company, will announce three major initiatives on Wednesday, including an investment of more than T$100 billion ($3.26 billion), local media reported.
One of the initiatives would see the company's cellphone unit, Hong Kong-listed Foxconn International (2038.HK), return to Taiwan to make a listing on the local stock exchange, the Commercial Times reported.
Foxconn previously confirmed it was planning such a move, but said details were still being worked out.
The second initiative would see Hon Hai move its largest transshipment facility to the southern Taiwan port of Kaohsiung, while the third would see it invest T$100 billion in a property development in Taiwan, the Commercial Times reported.
The company was expected to announce the initiatives at a joint event with Premier Liu Chao-shiuan, according to the newspaper.
Hon Hai's initiatives come as Taiwan implements a raft of financial reforms under new President Ma Ying-jeou designed to boost economic ties with China and make it easier for Taiwan firms with major mainland investments to list on their home stock market.
Hon Hai is one of the world's top contract electronics makers, supplying everything from iPhones for Apple (AAPL.O), Wii game consoles for Nintendo (7974.OS) and cellphones for Nokia (NOK1V.HE).
(Reporting by Doug Young; Editing by Kim Coghill)
