Chinese electric vehicle (EV) maker BYD had its largest share sale in four years on the Hong Kong stock exchange raising the equivalent of $5.59 billion in primary share sales, according to Reuters.
The EV maker originally planned to sell only 118 million shares, yet the sale saw 129.8 million ordinary shares be traded.
In the deal, each share was sold for 335.2 Hong Kong dollars, the equivalent to around 43.12 American dollars.
No specific projects or funds have been announced yet to be financed by the share sale but it is expected to be invested in the company’s general growth.
A United Arab Emirates company Al-Futtaim Family Office was reported to be a key investor in the share sale however the amount that was invested has no been announced.
BYD recently announced the release of its advanced self-driving system, dubbed ‘God’s Eye’ which will reportedly be made available in all BYD vehicles.
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