Deals

Hon Hai's FII to Raise $4.3 Billion in Marquee Chinese IPO

Debut values Foxconn’s smart factory arm at about $43 billion
Terry Gou’s Foxconn is trying to lessen dependence on Apple

Foxconn Industrial Internet plans to raise $4.3 billion in an IPO in China. Bloomberg’s Debby Wu reports.(Source: Bloomberg)

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By Debby Wu

May 22, 2018 at 4:37 PM UTC

Updated on

May 23, 2018 at 5:44 AM UTC

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Foxconn Industrial Internet Co. plans to raise 27.1 billion yuan ($4.3 billion) selling stock in an initial public offering, kicking off the largest mainland Chinese debut since the 2015 stock market crash.

Shares will be offered at 13.77 yuan apiece, valuing the company at about $43 billion -- larger than eBay Inc. The smart factory unit of Hon Hai Precision Industry Co., Apple Inc.’s most important assembly partner, will float 1.97 billion shares in Shanghai, it said in a filing with the Shanghai Stock Exchange.