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Chinese electric vehicle maker BYD launches US$1.8 billion capital raising -term sheet

October 30, 2021
Source: singaporenewslive.com singaporenewslive.com
News Snapshot:
HONG KONG : Chinese electric vehicle company BYD Co is raising up to US$1.8 billion in a capital raising launched on Friday, a term sheet seen by Reuters showed. A price range to sell 50 million shares was set at between US$HK273.5 and US$279.5, which represents a 5.8per cent to 7.8per cent discount to the stock’s closing price on Friday. BYD Co is listed on the Hong Kong and Shenzen stock exchanges. It said it would use the funds to increase its working capital, pay down debt and invest in research and development. BYD announced on Thursday that it made...
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Tags: Business | BYD | capital | Chinese | currency | development | discount | electric vehicle | Hong Kong | IT | KONG | net profit | profit | Renminbi | research | research and development | Reuters | shares | stock | Three | vehicle | Yuan

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