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 |
比亚迪A股拟筹资21.92亿元 |
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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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拥有“股神”巴菲特光环的比亚迪20日披露发行公告，公司此次在深发所发行A股拟募集21.92亿元。 这家总部位于深圳的公司此前已在香港上市，本次A股发行价格确定为18元/股，对应市盈率为20.47倍。 根据比亚迪的公告显示，将于6月21日开始实施网上、网下申购。此次发行股份总数为7900万股，其中网下发行1500万股。 比亚迪目前主要从事二次充电电池业务、手机部件及组装业务，以及包含传统燃油汽车及新能源汽车在内的汽车业务。 |
China's business press carried the story above on Monday.
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