BYD (HKG:1211) raised HK$43.38 billion in net proceeds by placing a total of 129.8 million H shares to at least six independent third parties at HK$335.20 apiece, a Tuesday Hong Kong bourse filing said.

The issued shares account for 10.57% of BYD's Hong Kong share capital following the deal.

The manufacturing conglomerate now has 3,039,065,855 total issued shares instead of 2,909,265,855 and 1,227,800,000 H shares in place of 1,098,000,000 H shares. A shares remained unchanged at 1,811,265,855 A shares.

BYD will use the proceeds to invest in research and development, expand overseas businesses, supplement its working capital, and for general corporate purposes.

Shares of the company closed over 1% higher on Tuesday.