Taiwan’s Hon Hai Precision Industry is on course to complete its second spinoff in Hong Kong after pricing a $2.7 billion $342 million initial public offering of shares in its connector business.
The 990-million share sale by FIT Hon Teng was priced at HK$2.7 per share, slightly below the mid-point of guidance, although allocations were still being finalised during early Thursday afternoon hours, according to sources familiar with the situation.
The deal's expected completion is a relief for Hon Hai Precision, better known as the owner of Foxconn, as it is a full year since the company filed...
¬ Haymarket Media Limited. All rights reserved.
