Foxconn unit seeks to raise $4.3 billion in China's biggest IPO since 2015 [CNBC]
Apple Inc. (AAPL)
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Source: CNBC
With 10 percent of its enlarged capital offered in the initial public offering (IPO), Shenzhen-based FII would have a valuation of about $43 billion at listing. The listing is widely seen as a step for Terry Gou's Foxconn, a major Apple supplier formally known as Hon Hai Precision Industry, to wean itself off heavy reliance on manufacturing smartphones for the California-based iPhone maker and to diversify into new areas. Foxconn has signaled previously that FII will launch projects in areas including smart manufacturing, industrial internet, cloud computing, and fifth-generation wireless technologies. Published 40 Mins Ago Reuters
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