January 31, 2018 / 4:59 AM / 4 months ago

BRIEF-Hon Hai's Plan To List Foxconn Industrial Internet In Shanghai Approved By Shareholders

Jan 31 (Reuters) - Hon Hai Precision Industry Co Ltd :

* SAYS ITS PLAN TO LIST SUBSIDIARY FOXCONN INDUSTRIAL INTERNET CO ON SHANGHAI STOCK EXCHANGE WAS APPROVED BY SHAREHOLDERS

* SAYS APPROXIMATELY 10 PERCENT OF FII’S SHARES WILL BE CONVERTED TO FLOATING STOCK, WITH HON HAI MAINTAINING APPROXIMATELY 85 PERCENT OF FII SHARES

* SAYS THE PRICING AND TIMELINE FOR FII’S INITIAL PUBLIC OFFERING ARE TO BE DETERMINED

* SAYS IT WILL CONTINUE TO MAKE SIGNIFICANT INVESTMENTS IN INFRASTRUCTURE AND OTHER AREAS THAT WILL BE INSTRUMENTAL IN ITS TRANSFORMATION INTO A BIG DATA-DRIVEN, AI AND ROBOTIC TECHNOLOGY-BASED INDUSTRIAL INTERNET COMPANY

* SAYS THIS INCLUDES INCREASING THE DEVELOPMENT AND DEPLOYMENT OF ROBOTS IN THE MANUFACTURING PROCESS, FROM 60,000 ROBOTS CURRENTLY TO 200,000 ROBOTS IN THE NEXT FEW YEARS Further company coverage: (Reporting by Hong Kong newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below