In the largest financing scale in Hong Kong stocks in nearly four years, BYD raised HKD 43.5 billion through a placement
BYD COMPANY announced on the Hong Kong Stock Exchange that it plans to raise approximately HKD 43.5 billion through a placement agreement, with a net amount expected to be HKD 43.383 billion. The funds will be used for research and development, overseas business development, replenishing working capital, and general corporate purposes. The placement shares will account for approximately 11.82% of the existing issued H shares and about 4.46% of the total shares
BYD COMPANY announced on the Hong Kong Stock Exchange that the company and the placing agent entered into a placing agreement on March 3, 2025 (after market close). The placing shares will be issued and allotted under the general mandate. Assuming all placing shares are placed, the total amount of proceeds from the placing is expected to be approximately HKD 43.509 billion, and after deducting commissions and estimated expenses, the net proceeds from the placing are expected to be approximately HKD 43.383 billion. The net proceeds from the placing are intended to be used for the Group's research and development investments, overseas business development, replenishing working capital, and general corporate purposes. The placing shares represent approximately 11.82% of the existing issued 1,098,000,000 H shares and approximately 4.46% of the total number of shares issued as of the date of this announcement.
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