Hon Hai Precision (TPE:2317) unit Foxconn Industrial Internet (SHA:601138) will repurchase shares worth between 500 million yuan and 1 billion yuan.
The shares will be bought back at up to 20 yuan apiece and the repurchase will be executed via centralized bidding, according to a Monday Taiwan Exchange filing.
The computer and telecommunications equipment manufacturer will cancel the shares repurchased to reduce registered capital.
The repurchase will be funded internally and completed within 12 months upon shareholder approval, it added.
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