New model

27 January 2021 By Robyn Mak Follow @mak_robyn

The $100 bln electric-vehicle maker’s chip unit is in the spotlight with an upcoming IPO. BYD also produces batteries, giving it an edge over rivals grappling with supply-chain woes. Such vertical integration only looks feasible with generous government support, however.

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BYD Semiconductor, a subsidiary of Chinese automaker BYD, has begun offering an initial public offering tutorial with underwriter CICC, according to a Jan. 21 report from IFR.

In June, the chipmaker, which specialises in transistors used in electric cars, raised 800 million yuan ($124 million) from a group of 30 investors, including South Korea's SK Group and PC-maker Lenovo. The deal valued the company at 10.2 billion yuan.

Separately, BYD on Jan. 21 announced plans to sell $3.9 billion of new shares in Hong Kong to outside investors at HK$225 each, a 7.8% discount to the previous day's close.

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