Foxconn Technology Group (Hon Hai Precision Industry) has introduced plans to take a position NT$1 billion (US$36.1 million) for brand new shares to be issued by PV conductive paste maker Giga Solar Materials by personal placement.
Foxconn, by way of its subsidiary Hung Yang Soft Tech, will purchase a 10.54% stake in Giga Solar after Giga Solar completes its capital enhance.
Giga Solar is about to launch 10 million new shares a complete of NT$1.24 billion, with Foxconn to amass eight million of them and change into the second largest shareholders of Giga Solar.
Giga Solar will use the fund to ascertain manufacturing traces for battery anode supplies and cooperate with different element suppliers in Foxconn’s MIH electrical car (EV) improvement platform to develop EV-use lithium batteries.
