Hong Kong – 27 July 2026 – Foxconn (Far East) Limited (“Foxconn FE”), a wholly-owned subsidiary of Hon Hai Precision Industry, has signed a conditional share purchase agreement (SPA) to acquire 239.05 million shares of Maxnerva Technology Services Limited (“Maxnerva”) from FSK Holdings and FDG Fund for HK$152.37 million in cash, or HK$0.6374 per share. The block represents 33.85% of Maxnerva’s issued share capital.
Upon completion, Foxconn FE’s direct stake will rise from 6.61% to 40.46%, while the two sellers will cease to be shareholders. Crossing the 30% threshold will oblige Foxconn FE to launch: 1) A mandatory conditional cash offer for all remaining 420.44 million Maxnerva shares not already owned or agreed to be acquired, at HK$0.6374 per share; and 2) A concurrent offer to cancel 6.82 million outstanding share options at “see-through” prices ranging from HK$0.0001 to HK$0.3274 per option, dependent on exercise price. The option offer becomes effective only if the share offer turns unconditional.
Deal valuation and funding • Maximum cash outlay, assuming full acceptance and full option exercise, is capped at HK$272.34 million (HK$267.99 million for shares; HK$0.87 million for options). • Foxconn FE will fund the transaction and the offers entirely from internal resources. Somerley Capital, acting as financial adviser, has confirmed sufficiency of funds.
Offer pricing and premiums The HK$0.6374 per-share offer price reflects: • 55.46% premium to the last trading day close of HK$0.4100 on 24 July 2026; • 56.23% premium over the five-day average closing price; • 57.38% premium over the ten-day average; • 43.66% premium over the 30-day average; • 3.70% discount to Maxnerva’s audited 31 December 2025 net asset value of HK$0.6619 per share.
Key conditions and timetable SPA completion hinges on Vietnamese antitrust clearance, absence of prohibitive legal events, and accuracy of parties’ warranties. The deal may be terminated if the average Maxnerva share price falls below HK$0.396 or rises above HK$1.26 for any 20 consecutive trading days before completion.
Following SPA completion, the composite offer document—combining the offer letter and the offeree board circular—must be dispatched within 21 days of today, or within seven days after completion but no later than 15 January 2027, subject to regulatory consent.
Company snapshot Maxnerva reported 2025 revenue of RMB707.58 million and a net loss attributable to shareholders of RMB14.55 million, with net assets of RMB404.81 million as at 31 December 2025. The Hong Kong-listed IT services group operates in Mainland China, Taiwan, Vietnam and the United States.
Post-deal intentions Foxconn FE views the acquisition as a long-term investment aimed at streamlining shareholding and enhancing operational decision-making. A strategic review of Maxnerva’s assets and operations is planned, though no immediate major business or workforce changes are proposed. The buyer intends to maintain Maxnerva’s listing and will work to preserve adequate public float.
Investor caution The offers will only proceed if all SPA conditions are met; completion, and therefore the offers, may not occur. Shareholders and optionholders are advised to exercise caution when dealing in Maxnerva securities and to await the forthcoming composite document, which will include independent recommendations.