Shares of Hon Hai Precision Industry, the world's biggest contract electronics maker, rebounded in heavy trading Wednesday after the company's chairman, Terry Gou, painted a positive outlook at a shareholders meeting the previous day. Hon Hai climbed NT$3 (US$0.0925), or 2.7 percent, to NT$114.5 in mid-morning trading before falling back to NT$113.5 in the early afternoon. Its shares have plunged more than 10 percent in June and closed at NT$111.5 on Tuesday. Hon Hai shares have faced heavy selling recently from foreign institutional investors, who sold more than NT$8 billion in Hon Hai shares on Tuesday. Sales of Hon Hai shares accounted for over 70 percent of their share sales on the day. At Tuesday's shareholders meeting, Gou asked shareholders to remain confident in the company's management and said he was not worried about the company's share prices. 'As long as the company's management team is sound, the products are good, and the technologies are still there, there is definitely no need to worry about share prices,' he said. Gou also announced that the company will increase Hon Hai Precision's capital by issuing 880 million shares in the form of global depositary receipts (GDRs). The move was more than double the 430 million GDRs the company's board authorized in March and represents about 10 percent of the company's share equity. It will be the biggest fundraising initiative in Hon Hai's history and will also set a new record for all companies listed on Taiwan's stock exchange and the GreTai Securities Market. When asked about the GDRs' pricing, Gou replied, 'I will definitely not offer the shares at a price of NT$100. I may not even issue them at NT$150.' The share sale could raise up NT$132 billion if the sales price is NT$150 per share. Gou said he was not worried about the GDR issuance being undersubscribed because there is ample liquidity in international capital markets. He also said Hon Hai will continue its R&D efforts and has many investments in new energy, cloud computing, light emitting diodes (LED) and nanotechnology. 