Shareholders of Hon Hai Precision Industry Co (鴻海精密), including Chairman Terry Gou (郭台銘) and Acer Inc, sold US$258.5 million worth of shares, or a 1.8 percent stake, in the company overseas, according to an e-mail sent to investors.
Investors bought 29.37 million global depositary receipts at US$8.8017 each, equivalent to NT$136.77 for each common share, said Edward Naylor, a Hong Kong-based spokesman at Goldman Sachs Group Inc, which arranged the sale. Naylor declined to name the shareholders selling the stock.
The shares sold at a 3 percent discount to the closing price of Hon Hai's stock in Taiwan on Thursday. Hon Hai's share price yesterday fell 2.1 percent to NT$138 in Taipei at the close of the market. The company's shares have lost 6.1 percent of their value since Jan. 1, compared with a 1.6 percent drop for Taiwan's benchmark TAIEX index. Hon Hai spokesman Edmund Ding (丁祈安) wasn't available to answer calls from Bloomberg.
Goldman bought 22.72 million Hon Hai shares from shareholders at an undisclosed price and sold the stock to global investors. The US investment bank later sold an additional 6.7 million shares to meet demand, Goldman said.
Hon Hai unit Foxconn International Holdings, a maker of handset parts, on Jan. 28 raised HK$3.4 billion (US$433 million) in its Hong Kong initial public offering, as investors ordered more stock than was available. The shares have since gained 3.7 percent compared with a 2.3 percent increase for Hong Kong's Hang Seng Index.
Gou is Taiwan's richest individual, with the equivalent of US$3.2 billion, according to Forbes magazine's annual survey. The founder of Hon Hai started the company with an investment of NT$300,000, his mother's money, to make plastic components for black-and-white televisions in 1974.
Hon Hai, which makes computers, mobile phones and video games for customers such as Dell Inc, Nokia Oyj and Sony Corp, will achieve 30 percent annual growth in its sales by the time Gou retires in 2008, he said on Jan. 19.
Acer on Thursday sold 1.5 million units of Hon Hai's global depository receipts -- each of which represents two Hon Hai common shares -- at an average price of the equivalent of NT$136.09 a share, according to Acer Spokeswoman Stella Chou (周之新).
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
Japanese technology giant Softbank Group Corp said Tuesday it has sold its stake in Nvidia Corp, raising US$5.8 billion to pour into other investments. It also reported its profit nearly tripled in the first half of this fiscal year from a year earlier. Tokyo-based Softbank said it sold the stake in Silicon Vally-based Nvidia last month, a move that reflects its shift in focus to OpenAI, owner of the artificial intelligence (AI) chatbot ChatGPT. Softbank reported its profit in the April-to-September period soared to about 2.5 trillion yen (about US$13 billion). Its sales for the six month period rose 7.7 percent year-on-year
MORE WEIGHT: The national weighting was raised in one index while holding steady in two others, while several companies rose or fell in prominence MSCI Inc, a global index provider, has raised Taiwan’s weighting in one of its major indices and left the country’s weighting unchanged in two other indices after a regular index review. In a statement released on Thursday, MSCI said it has upgraded Taiwan’s weighting in the MSCI All-Country World Index by 0.02 percentage points to 2.25 percent, while maintaining the weighting in the MSCI Emerging Markets Index, the most closely watched by foreign institutional investors, at 20.46 percent. Additionally, the index provider has left Taiwan’s weighting in the MSCI All-Country Asia ex-Japan Index unchanged at 23.15 percent. The latest index adjustments are to
RSS