Key Subsidiary Foxconn Industrial Internet (FII) to Repurchase Shares via Open-Market Auction
Original: 代重要子公司富士康工業互聯網股份有限公司公告以集中 競價交易方式回購股份事宜
Summary
Hon Hai Precision is filing on behalf of its material subsidiary Foxconn Industrial Internet Co., Ltd. (FII; SSE: 601138) to announce a share repurchase program to be executed through the centralized competitive-bidding (open-market auction) mechanism on the Chinese mainland exchange. Share buybacks at a publicly listed subsidiary signal management confidence in FII's valuation and may reduce the subsidiary's outstanding share count, with potential read-through effects on Hon Hai's consolidated equity interest. Full body available on MOPS.
Full Translation
Filing made by Hon Hai Precision Industry Co., Ltd. (TWSE: 2317) on behalf of its important subsidiary Foxconn Industrial Internet Co., Ltd. (富士康工業互聯網股份有限公司; SSE: 601138) — Announcement of a share repurchase to be conducted via the centralized competitive-bidding trading method (集中競價交易方式), the standard open-market auction mechanism used on PRC domestic exchanges for exchange-based buybacks. Under TWSE disclosure rules, Hon Hai is required to file this announcement on behalf of material subsidiaries whose own disclosures trigger a corresponding obligation at the parent level. [Body not available — subject line only. See MOPS for full announcement.]