BYD nabs $3.6bn from new share placement

By Jonathan Breen
21 Jan 2021

Chinese car manufacturer BYD has closed Hong Kong’s largest primary share placement in more than half a decade, raising HK$29.9bn ($3.86bn). The issuer tapped the market as the local benchmark Hang Seng Index hit a record high, getting strong demand from mainland investors. Jonathan Breen reports.

Shenzhen-based BYD, which counts Warren Buffett among its backers, has its roots in traditional vehicles, but is shifting away from that towards electric cars and new energy vehicles.

New energy has increasingly become a buzzword in the capital markets and electric vehicle manufacturers have been some of the ...

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