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BYD raises less than expected

06-20-2011 15:25 BJT

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Warren Buffett-backed Chinese carmaker, BYD, has raised a less-than-expected 1.42 billion yuan in its initial public offering in Shenzhen. The lackluster performance was mainly due to weak investor sentiment and concerns over poor performance.

BYD had originally expected to raise up to 2.19 billion yuan from the share sales. The Shenzhen IPO was priced at 18 yuan a share. BYD's Hong Kong-listed shares, though, were last traded at 21.5 Hong Kong dollars a share. But despite the modest deal, BYD remains a high profile and closely watched company in China, thanks to the golden touch of the Oracle of Omaha.

Editor:Shi Jierui |Source: CNTV.CN

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