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BUZZ-BYD's HK shares slip on raising $5.6 bln at discount

Reuters
Mar 04, 2025
BUZZ-BYD's HK shares slip on raising $5.6 bln at discount

** H-shares of BYD 1211.HK drop 8.1% to HK$334; set for biggest one-day pct decline since October 8, 2024

** Stock hits lowest since February 12; second biggest pct loser on Hang Seng Index .HSI and Hang Seng China Enterprises Index .HSCE, which are down 1.2% and 1.6% respectively

** Shenzhen-listed stock 002594.SZ slips 6.2% to 338.03 yuan, lowest since February 12

** Chinese EV maker raises $5.59 billion in primary share sale that was increased in size, HK's largest in four years

** Sells at HK$335.20, 7.8% discount to Monday's close of HK$363.6; proceeds will be used in R&D, overseas expansion and as working capital

** Attracts investments from sovereign wealth funds, Middle East strategic investors and UAE's Al-Futtaim Family Office

** YTD, HK and Shenzhen shares up 26.4% and 22.1% respectively

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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