Taipei, Oct. 18 (CNA) The Hon Hai Technology Group, also known as Foxconn, announced Friday that it will issue US$700 million in unsecured overseas convertible bonds in 2024 next week, the first overseas convertible bond offering by Foxconn this year.
The bonds, which will have a 0 percent interest rate and a five-year maturity, will be issued and traded on the Singapore Exchange starting on Oct. 24, the world’s largest contract electronics manufacturer said in a filing with the Taiwan Stock Exchange Corp.
Hon Hai said bondholders will have the option to convert these bonds into newly issued common shares during the conversion period, at a conversion price of NT$300 (US$9.34) per share.
Based on Hon Hai’s intraday stock price of NT$209, recorded on Friday morning, the conversion price represents a premium of 43.5 percent. Market analysts said this suggests investors believe Hon Hai’s long-term stock price could potentially reach…
