More than seven years since its last deal, Hon Hai Precision Industry returned to the equity-linked market to raise $500 million from a five-year convertible bond sale on Monday. It was able to capitalise on its soaring share price on the back of massive interest in Apple’s new smartphone, series, the iPhone X.
The Taiwanese electronics manufacturer better known internationally as the biggest assembler of Apple’s smartphones tapped the equity-linked market one working day after Apple started allowing customers to pre-order iPhone X last Friday. The overwhelming demand saw the first batch of the new gadget sell out within 10 minutes.
That scramble appeared to have...
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