BYD launches share sale and seeks to raise up to $5,200 million dollars

According to a term sheet obtained by Reuters on Monday, BYD has initiated an accelerated bookbuild to generate up to $5.2 billion from the sale of its Hong Kong shares.

The company has established a price range of HK$333-345 per share for the offering, indicating a discount of up to 8.4% from the stock’s closing market price of HK$363.60 on Monday.

According to a term sheet obtained by Reuters on Monday, BYD has initiated an accelerated bookbuild to generate up to $5.2 billion from the sale of its Hong Kong shares.

The company has established a price range of HK$333-345 per share for the offering, indicating a discount of up to 8.4% from the stock’s closing market price of HK$363.60 on Monday.

BYD, which exceeded its global sales target of more than 4 million units sold last year, will open its first electric car plant in Southeast Asia in Thailand in 2024, with a $490 million investment and a production capacity of 150,000 units per year.