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The Chinese electric vehicle champion said on Tuesday that he raised $ 5.6 billion at the highest sales of Hong Kong shares in four years and the largest offer of capital monitoring in the global car sector in the decade.
Warren Buffett supported 129.8 million shares of 335.20 HK per contract, according to the submission of the stock market, which represents an 8 percent discount on its closing price on Monday, the share of the share was increased by 118 million, according to the details of the terms seen by the Financial Times.
His shares on the Hong Kong list have fallen almost 7 percent on Tuesday, but so far they are even over 30 percent of this year.
The offer was reflected Tesla’s main rival Hunger is growing for fund for stimulating foreign expansion and trend this year sells shares by companies with a continental list in the city that indicates the recovery of market feelings and interests of investors for the shares of H-none Chinese companies with continental land stated in Hong Kong.
“Byd has a lot of free cash flow and net cash in China but cost a lot to transfer [renminbi] In a currency outside China, “Citi analysts wrote in a research note.”[It] The flexibility for regular approval during the initial period of fulfillment of the capital cycle abroad is also lacking. “
The position of the share will strengthen Bed’s “the ability to further improve its technological abilities and accelerate its foreign expansion,” the company states.
Byd based in Shenzhen has exerted aggressive pressure on the main markets around the world, with plans for the construction of localized production lines in Hungary, Turkey and Brazil.
China’s foreign investment investment has encouraged some domestic companies with international ambitions to seek offshore h-vessels of questions. The world’s largest producer EV battery Catl and the largest Chinese vehicle exporter Chery submitted last month in the Hong Kong list.
BYD’s stock sales were the largest in Hong Kong from the food delivery platform Meituan collected $ 10 billion In 2021 Goldman Sachs, UBS and Citic were the total contract coordinators.
The transaction has attracted only long-term, sovereign wealth funds and the Al-Futtaim Family Office based in the United Arab Emirates as a strategic investor, with the order book several times, the group announced. The al-Futtaim group distributes byd cars in UAE and Saudi Arabia.
European and Middle Eastern funds were strongly involved in the agreement, to get to know the transaction according to one person. Investors in the Middle East play an increasingly important role in the Chinese fast -growing vehicle sector. At the end of 2023, EV Maker from New York nio provided $ 2.2 billion from CyvnInvestment group in Abu Dabi, after an injection of $ 1 billion from the same investor earlier that year. At about the same time, Pony.ai, a Chinese solo driver on Nasdaq’s list, earned $ 100 million from Neom Saudi Arabia.
In China, BYD cars make up about one third of all new EV sold, including clean batteries and additional hybrids. Last year, the company sold 433,000 vehicles in foreign markets, making more than 10 percent of the total number of sales.
