Reed Smith advised BYD on US$5.6 billion H-share accelerated bookbuild offering

Reed Smith advised BYD on US$5.6 billion H-share accelerated bookbuild offering

Reed Smith advised BYD Company Limited on its landmark US$5.6 billion (HK$43.5 billion) H-share offering, marking the largest equity follow-on offering in the global automotive sector in over a decade and the biggest share sale in Hong Kong in the past four years.

BYD successfully priced 129.8 million H-shares at HK$335.2 per share. The proceeds from the offering will support BYD’s strategic globalization goals for its new energy vehicle (NEV) business, including investments in overseas manufacturing, expansion of sales channels, and global brand development.

The Reed Smith team advising BYD was led by Ivy Lai (Partner), with support from Gregory Wang (Partner) and Leigh T. Hansson (Partner), leveraging the firm’s cross-office capabilities in Hong Kong and London.

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