Hon Hai Precision Industry (TPE:2317), also known as Foxconn, acquired 9.8 million shares in Wcube valued at $11.6 million, according to a Thursday Taiwan Exchange filing.
Shares gained 1% in Friday's midday trade.
The company said the transaction involved shares priced at $1 each and was carried out via its subsidiary Foxconn (Far East) as part of an internal restructuring exercise.
Ganesha Ecosphere (NSE:GANECOS, BOM:514167) said its wholly owned subsidiary Ganesha Eco has decided to drop its proposed greenfield recycled Polyethylene Terephthalate (rPET) granules project in Odisha for now, according to a Thursday filing on Indian bourses.Shares of the company fell nearly 4% in Friday's trade.On the other hand, the subsidiary approved expanding rPET granules capacity at its Warangal unit by 22,500 tons per year, raising total installed capacity to 87,000 TPA, the filing stated.The expansion is expected to be completed by March 2027 with an investment of about 1.25 billion rupees, to be funded through a mix of debt, equity and internal accruals, it added.
Bikaji Foods International (NSE:BIKAJI, BOM:543653) approved an additional investment of up to $5 million in subsidiary Bikaji Foods International USA Corp, according to a Thursday filing on Indian bourses.Shares of the company fell over 1% in Friday's trade.The board also approved the acquisition of a 74% stake in Jai Barbareek Dev Snacks through the purchase of 14,800 equity shares from existing shareholders, the filing said.Additionally, the board approved an investment of up to 50 million rupees in wholly owned subsidiary Bikaji Bakes through optionally convertible debentures.Bikaji Foods International's board also approved signing a loan agreement of up to 50 million rupees with Dadiji Snacks, a contract manufacturing unit.
The European Commission is looking to exempt Chinese semiconductor supplier Yangzhou Yangjie Electronic Technology (SHE:300373) from sanctions, Bloomberg News reported Thursday, citing people familiar with the matter.The executive arm of the European Union would propose the exemption as early as this week, the report said.European automakers lobbied for the removal of the ban after warning supply chains would be depleted in weeks if the ban stays, the news agency said, citing the sources.The removal of the ban could be temporary until automakers could find alternative suppliers, Bloomberg reported.The bloc included Yangjie in its 20th sanctions package on the grounds that the company is providing dual-use goods or weapons to Russia, according to the news agency.Yangjie's technologies were allegedly found in Russian drones and glide bombs used in the war against Ukraine, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)