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home / news releases / HNHAF - Foxconn to invest $36.1 million in Giga Solar

HNHAF - Foxconn to invest $36.1 million in Giga Solar

Foxconn Technology Group
Apple assembler Foxconn, formally known as Hon Hai Precision (HNHAF), announces plans to invest NT$1 billion (about $36.1 million) for new shares issued by PV conductive paste maker Giga Solar Materials through private placement, according to Digitimes.Foxconn will acquire a 10.54% stake in Giga Solar via its subsidiary.Giga Solar is set to release 10 million new shares a total of NT$1.24 billion, with Foxconn to acquire eight million of them and become the second-largest shareholders of Giga Solar.Giga Solar will use the fund to build production lines for battery anode materials and collaborate with other suppliers in Foxconn's MIH electric vehicle development platform to develop EV-use lithium batteries.

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Foxconn to invest $36.1 million in Giga Solar
Stock Information
Company Name: Foxconn Technology Group
Stock Symbol: HNHAF
Market: OTC
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