Cars

China's car maker BYD gets approval for IPO

(Xinhua)
Updated: 2011-06-17 09:22

BEIJING -- BYD Co Ltd, the Chinese car maker backed by US billionaire investor Warren Buffett, said late Thursday that it had received formal approval from China's top securities regulator for an A-share listing on the Shenzhen market.

The company, which already has shares listed in Hong Kong, planned to list no more than 79 million yuan-denominated shares, or A-shares, on the Shenzhen bourse, according to a statement filed with the Shenzhen Stock Exchange.

The auto maker, in which Buffett's Berkshire Hathaway Inc has a 9.9 percent stake, also said it would start the IPO roadshow on June 20.