March 8, 2018 / 9:30 AM / in 10 months

Foxconn unit wins CSRC approval for Shanghai IPO - sources

FILE PHOTO: Logos of Foxconn and Ennoconn are seen during the annual Computex computer exhibition in Taipei, Taiwan June 1, 2016. REUTERS/Tyrone Siu/File Photo

SHANGHAI (Reuters) - Taiwan’s Foxconn, the world’s largest contract electronics manufacturer, has won approval for a mainland listing of one of its subsidiaries, two sources said on Thursday.

Foxconn, formally known as Hon Hai Precision Industry Co, has been aiming to list the unit, Foxconn Industrial Internet Co Ltd (FII), on the Shanghai Stock Exchange to help fund projects in smart manufacturing, cloud computing and 5G solutions.

Reporting by Xiaochong Zhang and Adam Jourdan; Editing by Shri Navaratnam

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