Reported about 23 hours ago
Chinese electric vehicle manufacturer BYD has successfully raised $5.59 billion through a primary share sale, marking the largest of its kind in Hong Kong in four years. The sale involved 129.8 million shares, exceeding initial estimates, and reflects a strong sentiment in the market, particularly in the tech sector. The funds will be utilized for research, international expansion, and operational needs as BYD aims to boost production significantly and compete with major global automakers.
Source: YAHOO