BYD Said to Plan About $1.6 Billion Private Share Sale
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An employee charges a BYD Co. electric vehicle at the company’s campus in the Pingshan district of Shenzhen, China. Photographer: Brent Lewin/Bloomberg
BYD Co. plans to raise about 10 billion yuan ($1.6 billion) in a private A-share placement, people familiar with the matter said, amid a stock-market rally that’s seen its Shenzhen-traded shares almost double in value this year.
BYD is working with banks including China International Capital Corp., China Merchants Securities Co., Guosen Securities Co. and UBS Group AG on the plan, the people said, asking not to be named as the information is private. Details including the size of the offering haven’t been finalized and are subject to change, the people said…
BYD Said to Plan About $1.6 Billion Private Share Sale
