Baoxin International, a subsidiary of Taiwan’s Hon Hai Precision Industry Co., sold NT$1.3 billion (US$41.2 million) worth of shares in Hon Hai Precision Industry Co., capitalizing on the recent surge in the component maker’s stock price.
The disposal of 14,053 shares occurred between November 8-19 at an average price of NT$94.07, generating a profit of NT$204 million (US$6.5 million). The transaction reduced Baoxin’s stake in Hon Hai to 7.93% from about 19%.
Hon Hai’s stock jumped more than 6% during a November 19 court hearing, closing at NT$93.8. The company’s remaining 112,128 shares held by Baoxin are valued at approximately NT$8.87 billion (US$281.5 million).
The sale comes as Taiwanese technology stocks have shown strong momentum, with the broader market gaining over 300 points during the session. The timing suggests Baoxin sought to take advantage of favorable market conditions to monetize part of its investment.
