Chinese electric vehicle maker BYD has raised $5.59 billion in a primary share sale that was increased in size, according to a term sheet seen by Reuters on Tuesday, the largest of its kind in Hong Kong in four years.
The company sold 129.8 million primary shares in the deal, the term sheet showed, up from the original 118 million shares planned when the deal launched on Monday.
BYD did not immediately respond to a request for comment sent outside of normal business hours.
BYD sold the shares at HK$335.20 each which was a 7.8% discount to the stock’s closing price of HK$363.6 on Monday.
The shares were sold in a price range of HK$333 to HK$345 per share each in the accelerated book build.
Reuters
