Hon Hai Precision Industry Ltd (
The company, which makes all computer components except semiconductors, will sell the equivalent of 90 million shares, or about 5.2 percent of its existing equity, in the form of global depositary receipts (GDR) "sooner rather than later," said David Chang, a Taipei-based managing director at Goldman Sachs Group Inc, which is arranging the sale.
"It's never been a problem for the company to raise money," said Alison Yip, an analyst at CLSA Global Emerging Markets in Taipei, who has had a "buy" recommendation on Hon Hai since the beginning of the year.
"The company constantly delivers," she said.
Hon Hai's June sales rose 16 percent from May to NT$10.9 billion (US$311 million) and its shares have gained 12 percent this year compared with the 7.8 percent fall in the TAIEX.
The company's planned GDR sale will be its second, following one in September 1999.
The company will decide when and at what price to sell the shares in accordance with market demand, Hon Hai spokesman Edmund Ding said.
The Securities and Futures Commission on Friday approved Hon Hai's sale of equity as global depositary receipts.
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