BYD (BYDDF) has launched a sale of its Hong Kong shares to raise up to $5.2B via an accelerated book-building, according to a deal term sheet seen by Reuters, Scott Murdoch reports. The company has set a price range of HK$333-HK$345 per share for the offering, and BYD plans to use the proceeds to invest in research and development, expand overseas businesses, supplement its working capital, and for general corporate purposes, the term sheet shows.
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