Foxconn Industrial Internet’s chances of success as it prepares its blockbuster initial public offering in Shanghai have narrowed considerably now that Baidu, Alibaba and Tencent have been revealed as strategic investors.
But then, with retail investor demand already at fever pitch and the shares priced reasonably, the omens are already looking pretty positive for China's biggest domestic IPO in three years.
In a stock market filing, Hon Hai Precision Industry’s smart factory unit said the Chinese technology triumvirate will each purchase shares worth about 3.86% of the Taiwanese company. They are among 20 strategic investors to have been collectively allotted 590.8 million...
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