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Foxconn Industrial Internet to Repurchase Shares for Up to 2 Billion Yuan

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Foxconn Industrial Internet (SHA:601138), a subsidiary of Hon Hai Precision Industry (TPE:2317), plans to repurchase its shares ranging from 1 billion yuan to 2 billion yuan, using its own funds, according to a Monday filing to the Taiwan bourse.

Foxconn's shares were down over 2% in Tuesday's trade.

The repurchase will be conducted through centralized bidding, and the price will be capped at 103 yuan per share, said the contract manufacturer of AI servers.

The repurchase will be carried out within three months after receiving the board of directors' approval.

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