Deals
Alibaba, Tencent Join Big Names Betting on Hon Hai Arm's IPO
- They join Baidu, Central Huijin and China Life among others
- Hon Hai’s FII is raising $4.3 billion in a landmark debut
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China’s largest initial public offering since 2015 has gotten the attention of the nation’s top internet companies.
Affiliates of Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd., known collectively as BAT, are becoming strategic investors in Foxconn Industrial Internet Co. The companies are buying 21.8 million shares each in FII’s listing at 13.77 yuan apiece, the firm said in a statement to the Shanghai stock exchange Sunday.