Tuesday May 10, 2011
BYD gets nod for A-share listing
SHANGHAI: China's securities watchdog yesterday approved plans by Warren Buffett-backed BYD Co Ltd for an A-share listing on the Shenzhen market, a source with direct knowledge of the situation said.
The move would help promote the Chinese automaker's brand in the mainland and ease its financial burden, analysts said.
Based on BYD's closing price of HK$28.20 a share in Hong Kong yesterday, the issue will be worth up to HK$2.23bil (US$287mil). - Reuters
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