Chinese electric vehicle maker BYD, backed by Warren Buffett, to raise up to US$1.8 billion in Hong Kong share sale

//Chinese electric vehicle maker BYD, backed by Warren Buffett, to raise up to US$1.8 billion in Hong Kong share sale

Chinese electric vehicle maker BYD, backed by Warren Buffett, to raise up to US$1.8 billion in Hong Kong share sale

BYD, the Chinese battery and electric carmaker backed by Warren Buffett, is seeking to raise up to US$1.8 billion in a follow-up stock flotation in Hong Kong.The Shenzhen-based electric vehicle maker aims to sell 50 million new shares in a price range of HK$273.5 (US$35.17) to HK$279.5 each, according to a term sheet seen by the South China Morning Post. That would represent a discount of 5.8 per cent to 7.8 per cent to the HK$296.60 closing price of its H-shares in Hong Kong on Friday.The new…

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By | 2021-10-29T13:17:17+00:00 October 29th, 2021|Business|Comments Off on Chinese electric vehicle maker BYD, backed by Warren Buffett, to raise up to US$1.8 billion in Hong Kong share sale