BYD Seeks $5.2 Billion in Biggest HK Share Sale Since 2021 (1)

Chinese electric vehicle maker BYD Co. is aiming to raise as much as HK$40.7 billion ($5.2 billion) in what would be Hong Kong’s biggest share sale in nearly four years.

The company is offering 118 million shares at HK$333 to HK$345 each, according to terms of the deal seen by Bloomberg News. That implies a discount of up to 8.4% to BYD’s closing price on Monday, according to Bloomberg calculations.

The transaction marks Hong Kong’s biggest share sale since food-delivery firm Meituan raised $10 billion in 2021 through a combination of a top-up placement and convertible bonds. BYD’s deal also ...