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Shanghai (Gasgoo)- On March 4, BYD Company Limited announced a massive refinancing plan, revealing a share placement that is worth HK$43.509 billion in expected gross proceeds. According to the announcement, BYD plans to issue 129.8 million H-shares to at least six placees, representing around 10.57% of the company's issued H shares and about 4.27% of its total issued shares. Photo credit: BYD The shares will be offered at HK$335.2 per share, a 7.8% discount to the previous closing price of HK$363.6 on March 3. The gross proceeds from the placement are expected to total HK$43.509 billion, with net proceeds estimated at HK$43.383 billion. The funds will be used for R investment, overseas business expansion, working capital replenishment, and general corporate purposes. This landmark financing move by BYD sets multiple records in both the global auto industry and the Hong Kong market. The company stated on its official website that the $5.6 billion H-share placement is: ● The larges
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