Shenzhen stock exchange suspends registration of BYD unit’s IPO application

Shenzhen stock exchange suspends registration of BYD unit's IPO application
FILE PHOTO: A woman walks past a BYD sign at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song/File Photo

HONG KONG : Shenzhen stock exchange has suspended its registration of an initial public offering (IPO) application by Chinese automaker BYD Co Ltd’s chip unit in China, according to a filing on the exchange dated Sept. 30.

BYD Semiconductor needs to update its listing application with its latest financial reports, the filing said.

The company aims to raise 2 billion yuan ($281.22 million) to fund projects and replenish capital, according to its prospectus.

($1 = 7.1118 Chinese yuan renminbi)

 

Source: Reuters