Global Times - BYD to raise 2.85 billion yuan in Shenzhen listing

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BYD to raise 2.85 billion yuan in Shenzhen listing

Source: Global Times
[14:14 July 24 2009]
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BYD F3

BYD issued a statement Thursday saying the company would hold a meeting to seek shareholders' approval of a plan to raise 2.85 billion yuan on the Shenzhen stock exchange.

The meeting is expected to be held on September 8.

BYD, a battery and electric vehicle maker, plans to raise about 2.85 billion yuan ($417.3 million) to invest in the production of lithium ion batteries, expand an automobile parts and accessories unit, and start the second phase of a solar battery manufacturing project.

Agencies and Shi Jierui contributed to this story