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Capital Markets

Foxconn unit's $4bn IPO is war chest for 'Made in China 2025'

FII's listing would be biggest in mainland since 2015

Terry Gou reiterates Foxconn will be part of China's smart manufacturing push and the listing of FII is part of that strategy.   © Reuters

TAIPEI -- Foxconn Industrial Internet, a unit of Hon Hai Precision Industry, plans to raise 27.1 billion yuan ($4.3 billion) in an initial public offering in Shanghai to develop smart manufacturing solutions to meet expected demand from Beijing's "Made in China 2025" policy.

"The company will aggressively devote itself into the realization of 'Made in China 2025,' becoming the world's leading industrial, internet-focused smart manufacturing and technology solutions provider," FII Chairman Tim Chen said during an online investors' conference on Wednesday.

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