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Chinese electric vehicle maker BYD announced on Tuesday that it had raised $5.59 billion in a primary share sale, marking the largest offering of its kind in Hong Kong since 2021. The deal, initially planned at 118 million shares, was expanded to 129.8 million shares due to investor demand.
BYD priced the shares at HK$335.20 ($43.11) each, representing a 7.8% discount to Monday’s closing price of HK$363.60. Following the sale, BYD’s Hong Kong-listed shares opened 8% lower on Tuesday, while the broader Hang Seng Index dropped 1.5%. The company said the transaction was the largest equity follow-on offering globally in the automotive sector in the past decade.
Source: https://evmagz.com/byd-raises-5-59-b...in-four-years/
BYD priced the shares at HK$335.20 ($43.11) each, representing a 7.8% discount to Monday’s closing price of HK$363.60. Following the sale, BYD’s Hong Kong-listed shares opened 8% lower on Tuesday, while the broader Hang Seng Index dropped 1.5%. The company said the transaction was the largest equity follow-on offering globally in the automotive sector in the past decade.
Source: https://evmagz.com/byd-raises-5-59-b...in-four-years/