Foxconn unit luring cornerstone investors for Shanghai IPO

Foxconn Industrial Internet is yet to finalise the size of the initial public offering (IPO), but it plans to use the proceeds to finance investments totalling 27.3 billion yuan ($4.3 billion) on areas including cloud computing, data centre and 5G related projects, according to the prospectus filed on Monday.

Foxconn unit luring cornerstone investors for Shanghai IPO
A motorcyclist rides past the logo of Foxconn, the trading name of Hon Hai Precision Industry, in Taipei. Photo: Reuters

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