Foxconn Industrial Internet Completes RMB 1 Billion Share Buyback
Foxconn Industrial Internet said its share repurchase plan has been completed, with the company having reached the lower bound of its RMB 1 billion to RMB 2 billion program. It bought back 15.8334 million shares, or about 0.08% of total share capital, at an average price of RMB 63.16 per share, spending RMB 1 billion excluding commissions and transfer fees.
Foxconn Industrial Internet disclosed on September 18 that its share repurchase plan has been completed. The plan, previously disclosed with a size of RMB 1 billion to RMB 2 billion, had reached the lower limit of the repurchase amount as of the disclosure date.
The company repurchased a cumulative 15.8334 million shares through the Shanghai Stock Exchange trading system by way of centralized competitive bidding, accounting for about 0.08% of its total share capital.
The highest repurchase price was RMB 66.4 per share and the lowest was RMB 59.91 per share, with an average repurchase price of RMB 63.16 per share. The total funds used amounted to RMB 1 billion, excluding trading commissions, transfer fees and other transaction costs. The repurchased shares will be used to safeguard the company's value and shareholders' rights and interests, and are intended to be sold 12 months after disclosure of the repurchase results.