Tuesday , October 20 2020
Foxconn sold Alibaba stock again, making $121 million this time

Foxconn sold Alibaba stock again, making $121 million this time

On October 11, Hon Hai Precision announced to the exchange that its subsidiary Foxconn Ventures sold 630,000 ADS (5.04 million ordinary shares) of Alibaba. The transaction date is October 8, and the transaction price per ADS is US$295.84, and the total transaction amount is US$18638 million.

According to the announcement, Hon Hai has realized a profit of nearly 121 million US dollars based on the acquisition cost. Among them, $67.977 million has been transferred to the undistributed surplus in 2019, and the remaining nearly $52.759 million in evaluation benefits will be recognized this year.

Recently, Alibaba’s stock price has been rising. On October 8, Alibaba’s share price in US stock trading broke through the $300 mark, setting a record high.

In 2007, Hon Hai, as a cornerstone investor, subscribed for 2.9% of the shares of Alibaba, which was just listed in Hong Kong, for HK$271.6 million, at a price of HK$13.5 per share.

In the past year, Foxconn Ventures has twice reduced its holdings of Alibaba stock and sold more than 3.5 million shares.

On March 21, 2019, Hon Hai issued an announcement stating that its subsidiary Foxconn Venture Capital Holdings Co., Ltd. had sold 2.2 million Ali shares held on March 20. The price per share is US$181.1, totaling US$398 million.

On December 13, Hon Hai Group announced again that its subsidiary Foxconn Venture Capital Holdings sold 1.338 million ADS shares of Alibaba on the 12th or 10.707 million ordinary shares. The transaction price is US$203.82 per ADS, and the total transaction amount is US$272 million. Realized a profit of about 133 million US dollars. The shareholding ratio was halved again.

After three reductions, Hon Hai currently holds 630,000 ADS shares of Alibaba and holds 0.02% of Alibaba shares.

Check Also

The world's first cloud computer released by Alibaba

The world’s first cloud computer released by Alibaba

Alibaba releases its first cloud computer. There is no hard disk, only the size of …

Leave a Reply

Your email address will not be published. Required fields are marked *