Chinese electric vehicle manufacturer BYD has successfully raised $5.59 billion through a share sale in Hong Kong, marking the largest such offering in the region in four years. The company sold 129.8 million primary shares at HK$335.20 each, a 7.8% discount to the closing price. The proceeds will support research and development, overseas expansion, and working capital. A strategic partnership with the UAE-based Al-Futtaim Family Office is also in the works. BYD, which dominates China’s EV market, continues to expand globally despite challenges like European tariffs. The deal reflects growing investor confidence in Hong Kong and China’s tech sector. — news from Reuters
