BYD to raise US$219m in China IPO
- By He Shan
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China.org.cn, June 20, 2011
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BYD to raise US$219m in China IPO |
比亞迪A股擬籌資21.92億元 |
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BYD, a Chinese auto maker in which billionaire investor Warren Buffett holds a stake, aims to raise as much as 1.42 billion yuan (US$219 million) through an initial public offering on China's Shenzhen stock market. The Shenzhen-based company, which is already listed in Hong Kong, has set its IPO price at 18 yuan (US$2.77) a share, giving it a price-to-earnings ratio of 20.47. According to a statement filed with the Shenzhen Stock Exchange on Sunday, BYD will issue up to 79 million shares in the offering. Investors can subscribe to the new shares starting Tuesday. BYD will use the proceeds from the IPO to fund a lithium ion battery project, to increase research and development, and to expand its product line and auto parts production, the auto maker stated in its prospectus.
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擁有“股神”巴菲特光環的比亞迪20日披露發行公告，公司此次在深發所發行A股擬募集21.92億元。 這家總部位于深圳的公司此前已在香港上市，本次A股發行價格確定為18元/股，對應市盈率為20.47倍。 根據比亞迪的公告顯示，將于6月21日開始實施網上、網下申購。此次發行股份總數為7900萬股，其中網下發行1500萬股。 比亞迪目前主要從事二次充電電池業務、手機部件及組裝業務，以及包含傳統燃油汽車及新能源汽車在內的汽車業務。 |
China's business press carried the story above on Monday.
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