0325 GMT - BYD's share-placement plan could support its expansion efforts and drive long-term growth despite the move's dilutive effect, Nomura analysts say in a research note. BYD earlier said it would raise $5.6 billion via a share placement. Nomura notes that the Chinese automaker has plans for potentially six overseas factories over the next two years, and it could face challenges in funding capital expenditure and expenses. Given China's capital-control measures, it might be difficult for BYD to transfer an adequate amount of capital needed outside the country, it adds. "As long as BYD continues to deliver shipment growth, we believe the investment theme on the name remains unchanged," the analysts say. BYD's H shares are last 6.2% lower at HK$341. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 22:25 ET (03:25 GMT)
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