HONG KONG – Global law firm Reed Smith has advised BYD on its US$5.6bn (HK$43.5bn) share sale. The offering is reported as the largest in Hong Kong in four years and the largest equity follow-on offering globally in the automotive sector over the past decade.
BYD successfully priced 129,800,000 shares of New H-share Placement, at Placing Price of HK$335.2 per share. The transaction will further facilitate the company's strategic layout in globalization of NEV and its overseas expansion in areas such as manufacturing, sales channels and brand promotion.
Reed Smith’s cross-office team advising BYD was led by partner Ivy Lai and supported by partners Greg Wang and Leigh Hansson.
For more information visit BYD’s website.