BYD Plans to Raise as Much as $2.42 Billion in Private Placement

BYD Co. Ltd. plans to raise as much as 15 billion yuan ($2.42 billion) in a private A-share placement, according to a statement to the Shenzhen stock exchange.

BYD plans to sell as many as 261.3 million shares at a minimum of 57.4 yuan apiece, according to the statement. The shares last closed at 76 yuan on May 22 before shares were suspended.

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