[Hon Hai] Foxconn (Far East) Limited Announces Disposal of Wcube Co., Ltd. Shares
Foxconn (Far East) Limited, a subsidiary of Hon Hai Precision Industry, sold all its ordinary shares of Wcube Co., Ltd. to its parent company, Hon Hai Precision Industry, on May 21, 2026. The purpose is to optimize the organizational structure through an in-kind capital reduction.
📋 Article Processing Timeline
- 📰 Published: May 21, 2026 at 09:00
- 🔍 Collected: May 22, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 22, 2026 at 08:27 (27 min after Collected)
1. Subject: Wcube Co., Ltd. ordinary shares
2. Date of occurrence: May 21, 115 (Republic of China calendar)
3. Board approval date: May 21, 115
4. Transaction terms: 9,837,716 shares at 1.18 USD each, for a total of 11,592,662 USD
5. Relationship: Parent-subsidiary transaction
6. Purpose: Organizational restructuring and optimization
7. Pricing basis: Based on book value
8. Post-transaction holdings: 0 shares, 0% ownership
9. Relevant financial metrics: 10.29% of total assets, 22.51% of equity attributable to owners, and working capital of -317,913,506 thousand TWD
2. Date of occurrence: May 21, 115 (Republic of China calendar)
3. Board approval date: May 21, 115
4. Transaction terms: 9,837,716 shares at 1.18 USD each, for a total of 11,592,662 USD
5. Relationship: Parent-subsidiary transaction
6. Purpose: Organizational restructuring and optimization
7. Pricing basis: Based on book value
8. Post-transaction holdings: 0 shares, 0% ownership
9. Relevant financial metrics: 10.29% of total assets, 22.51% of equity attributable to owners, and working capital of -317,913,506 thousand TWD
FAQ
What is the background of Foxconn's organizational restructuring?
It aims to optimize the group's overall organizational structure and efficiently manage its assets.
What happened to the Wcube shares?
They were fully transferred from Foxconn (Far East) Limited to Hon Hai Precision Industry.
What is the nature of this in-kind reduction of capital?
It is a method where subsidiary shares held by the company are used to offset the amount returned to the parent company.