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June 17, 2011

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BYD gets approval

BYD Co, the Chinese car maker backed by US billionaire investor Warren Buffett, yesterday said it has received approval from China's top securities regulator for an A-share listing on the Shenzhen market.

The company, which already has shares listed in Hong Kong, planned to list no more than 79 million yuan-denominated shares, or A shares, on the Shenzhen bourse, according to a statement filed with the Shenzhen Stock Exchange.

The auto maker, in which Buffett's Berkshire Hathaway Inc has a 9.9 percent stake, also said it would start the IPO roadshow next Monday.


 

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