BYD mulls A-share listing this year
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BYD, the Shenzhen-based auto and battery maker in which Warren Buffet owns a stake, plans to list A-shares on the mainland stock market this year. |
Upbeat about market conditions, BYD, the Shenzhen-based auto and battery maker in which Warren Buffet owns a stake, plans to list A-shares on the mainland stock market this year, issuing up to 100 million new shares.
BYD has submitted listing application documents to the China Securities Regulatory Commission and the listing will most likely take place this year, but the exact time is subject to the approval of the stock regulator, said Wu Jingsheng, vice president of BYD.
BYD had intended to list A-shares as early as 2008 but held off because of financial crisis and other concerns.
BYD expects its sales to grow 10-20 percent over the next five years, mainly driven by new-energy vehicles. It plans to produce 20,000 electric cars over next two years.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
