BYD to revive return-a-share plan

Prior to that, the market is constantly coming out of BYD shares will revisit the plan to return a shares, sure enough, the company issued a notice yesterday, pending the approval of the relevant regulatory authorities, will take the public issue and allot of new shares or the CSRC licensing other ways, allot and issue not more than 100 million shares. The company said it would apply to the Shenzhen Stock Exchange for a shares listing at a nominal value of 1 yuan per share.　　The shareholders ' meeting is expected to take place on September 21. Financing to accelerate expansion recent BYD's frequent moves: Prior to the news that BYD will buy the United States to enter the new energy passenger car business, and planning in Changsha to build BYD's domestic third industrial base and new Energy bus factory base, and BYD sales in 5 consecutive years to achieve high growth based on　　Sales in the first half of 2009 were up 176% from a year earlier, and BYD said in a statement that the money raised would be used primarily to fund BYD's lithium-ion battery production, car development, expansion of auto products and auto parts and solar cell projects. BYD also said the issue of a-share will create a new financing platform for the company to expand to different securities markets, so as to ensure that the company strengthen business development and further improve competitiveness.　　After the issuance of a total of 225 million new H shares and the issuance of a total of 100 million new shares, the share of BYD shares will fall from 72.29% to 66.61%, while the share will rise from 4.21% to 27.71% per cent of the total issued shares of 33.39% and H shares. In fact, BYD had earlier planned to hold an initial public offering in the mainland early last year, but the company shelved the scheme because of the poor performance of the A-share.　　The US-China Energy Holdings, a subsidiary of Berkshire Hathaway, the Buffett-owned company, acquired a 9.89% per cent stake in BYD's shares last September. Stock prices can still see the High Line by the return of a A-share news of the stimulus, the stock early hit the 15th hit a 52-week high of 39.3 Hong Kong dollar, the largest increase of more than 3%, but at the top of the lack of capacity to undertake, the big city afternoon accelerated down, BYD's share price with the "dive" and once turned green; The final charge was HK $37.4, up 1.63%.　　The unit has risen nearly 18% per cent in the past one months. Analysts say the shares, which are equivalent to a forecast of more than 30 times times earnings, may have overreacted to the "Buffett factor". But auto stocks in the recent policy positive stimulus under the strong trend, BYD has the concept of environmentally friendly cars, will be sought after by the market. In addition, the BYD return a A-share of the boost, the relevant new energy stocks and Chinese auto stocks will have a good performance. Securities Times