BYD IPO scuppered by China regulator

Author: EIS Release Date: Aug 31, 2021

BYD Semiconductor, the chip-making subsidiary  of Chinese EV manufacturer BYD, has been forced to postpone its IPO by a regulatory intervention.

 

It is the latest in a series of regulatory moves harming Chinese companies.

 

BYD Semiconductor had hoped to raise$420 million to invest in its business to expand output during the chip shortage.

 

 

The Chinese regulator announced an investigation into the law firm handling the IPO which forced the postponement of the offer.