Foxconn Acquires Shares of Wcube Co., Ltd. Following Subsidiary Capital Reduction
Foxconn (2317) acquired all shares of Wcube Co., Ltd. (valued at approximately 11.59 million USD) from its subsidiary, Foxconn (Far East) Limited, to optimize its organizational structure.
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- 📰 Published: May 22, 2026 at 06:31
- 🔍 Collected: May 22, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 22, 2026 at 07:45 (1h 13m after Collected)
Announcement Date: May 21, 2025, 17:35:59
Company Code: 2317
Company Name: Foxconn
Subject: Announcement regarding the acquisition of shares in Wcube Co., Ltd.
1. Target Entity: Wcube Co., Ltd. (Common Shares)
2. Date of Event: May 21, 2025
3. Transaction Value: 11,592,662 USD (9,837,716 shares at 1.18 USD per share)
4. Counterparty: Foxconn (Far East) Limited (Parent-Subsidiary relationship)
5. Reason for Selection: The subsidiary is conducting an in-kind capital reduction and is returning Wcube common shares to the parent company.
6. Purpose: To optimize the organizational structure.
7. Current Holdings: Cumulative holdings of 9,837,716 shares (100% ownership).
Company Code: 2317
Company Name: Foxconn
Subject: Announcement regarding the acquisition of shares in Wcube Co., Ltd.
1. Target Entity: Wcube Co., Ltd. (Common Shares)
2. Date of Event: May 21, 2025
3. Transaction Value: 11,592,662 USD (9,837,716 shares at 1.18 USD per share)
4. Counterparty: Foxconn (Far East) Limited (Parent-Subsidiary relationship)
5. Reason for Selection: The subsidiary is conducting an in-kind capital reduction and is returning Wcube common shares to the parent company.
6. Purpose: To optimize the organizational structure.
7. Current Holdings: Cumulative holdings of 9,837,716 shares (100% ownership).
FAQ
What is the impact of Foxconn's Wcube share acquisition?
It streamlines the group structure and reinforces Foxconn's direct control over Wcube. The impact on investors is expected to be minimal.
Why did Foxconn acquire these shares?
According to the announcement, the purpose is to optimize the group's organizational structure.
What is Foxconn's ownership stake after this transaction?
With this transaction, the ownership stake has become 100%.