BYD to raise US$5.6b with new share placements

There will be 129,800,000 new shares available.

Chinese car manufacturer BYD is planning to raise $43.54b (US$5.6b) via placement of 129,800,000 new H-Shares priced at $335.2 per share.

The transaction attracted participation from top-notch long-onlys, sovereign wealth funds, and Middle East strategic investors, with the orderbook multiple times covered.

Al-Futtaim Family Office from the United Arab Emirates participated in the transaction as a strategic investor. In the future, BYD and Al-Futtaim Corporate Group plan to build on their successful collaboration and transition into a strategic partnership, focusing on areas including, but not limited to, new energy vehicles. Starting with regional collaborations, both companies aim to explore further growth opportunities by leveraging synergies and expanding further.