Business
Electric Car Maker BYD Raises $3.9 Billion in Upsized Sale – The Australian Financial Review
BYD is the the latest in a growing line of Chinese Electric vehicle makers to tap capital markets for funding.
BYD Co, a Chinese electric-vehicle manufacturer backed by Warren Buffett, raised $HK29.9 billion ($4.97 billion) from an upsized sale of its Hong Kong-listed shares, capitalising on rising demand for new-energy vehicles and a blistering stock rally.
The company agreed to sell 133 million shares at $HK225 each, representing a discount of 7.8 per cent to Wednesday’s closing price of $HK244, according to a statement. The placed shares represent 14.54 per cent of its enlarged H-share base, the statement…
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