Chinese electric vehicle manufacturer BYD is offering its shares in Hong Kong to raise up to $5.2 billion. Set at a discount price range of HK$333-HK$345, the offering reflects increased market momentum in Hong Kong for Chinese firms seeking investment as the economy shows signs of recovery. BYD will utilize the funds for research and development, overseas expansion, and general operational needs. This move coincides with an uptick in new listings in the city, emphasizing a vibrant capital raising environment.
BYD has launched a sale of its Hong Kong shares to raise up to $5.2 billion via an accelerated book-building, indicating its ambitious growth plans.
The price range set by BYD, HK$333-HK$345 per share, represents an 8.4% discount, showing the company's strategy to attract investor interest in a recovering economic landscape.
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