(Yicai Global) Dec. 14 -- IDG Energy Investment Group Ltd. [HK:0650] intends to introduce Taiwanese electronics manufacturing giant Hon Hai Precision Industry Co. [TW:2317], trading as Foxconn Technology Group, as a strategic investor.

The Hong Kong-based group said today that it plans to issue 1.49 billion new shares at HKD1 (USD0.13) apiece, accounting for 24.37 percent of total share capital after the move. Foxconn, which is a major Apple Inc. [NASDAQ:AAPL] supplier, will purchase these shares through its affiliated companies, becoming the second largest IDG Energy shareholder.

After the issuance of the new shares, the shareholding ratio of IDG Energy's top shareholder, Titan Gas Technology Investment Ltd., will decline from 48.62 percent to 36.77 percent. Its will remain the controlling stakeholder.

Foxconn is one of the world's largest electronics manufacturers and will bring strategic value and unique resources to the company, IDG Energy said.

IDG Energy's share price rose to HKD1.79 on the new today, before closing at HKD1.48, up 8.03 percent.

IDG Energy invests in the energy sector. Since the beginning of this year, it has put great emphasis on natural gas and liquefied natural gas projects in China and North America. IDG Energy's predecessor, an energy firm based in the eastern Chinese province of Anhui, changed its name last year after the investment fund IDG Capital became its shareholder.