China’s EV maker BYD Co raises $1.77 billion – term sheet

HONG KONG (Reuters) – Chinese electric vehicle company BYD Co has priced its shares at HK$276 each to raise $1.77 billon, according to a term sheet seen by Reuters on Saturday.

The company sold 50 million new shares in the deal launched after the Hong Kong market closed on Friday.

BYD did not immediately respond to a request for comment.

(Reporting by Scott Murdoch in Hong Kong; Editing by William Mallard)

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