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BYD Places Shrs at 7.8% Discount, Raising Net $43.383B
Recommend 9 Positive 25 Negative 23 |
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BYD COMPANY (01211.HK) announced the placing of 129.8 million H-shares, marking the largest equity issuance in Hong Kong in nearly four years. The Placing Shares represent approximately 10.57% of the number of issued H Shares and approximately 4.27% of the number of total issued Shares, in each case, as enlarged. Priced at HK$335.2 per share, the offer reflects a discount of roughly 7.8% from the closing price of HK$363.6 on the previous trading day (3rd). The Company expects to raise net proceeds of approximately HK$43.383 billion from the placing. The net proceeds from the Placing are intended to be used by the Group to invest in research and development, expand overseas businesses, supplement its working capital, and for general corporate purpose. AAStocks Financial News |
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