Lithium Message Board - Msg: 25811290

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Gold/Mining/Energy : Lithium

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From: Condor	7/24/2009 8:24:40 PM
	of 1146

China BYD to raise 2.85 bln yuan in Shenzhen listing Thu Jul 23, 2009 9:48pm EDT Market News HONG KONG, July 24 (Reuters) - Chinese battery and electric car maker BYD Company (1211.HK) expects to raise 2.85 billion yuan ($417.3 million) via a placement of not more than 100 million A shares, and said it would seek shareholder approval of the plan on Sept 8. The proposal involves the listing of renminbi-denominated shares on the Shenzhen Stock Exchange, it said in a statement issued late on Thursday. The proceeds will be invested in the production of lithium ion batteries, expansion of an automobile parts and accessories unit, and the second phase of a solar battery manufacturing project. reuters.com

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