China's car maker BYD gets approval for IPO in Shenzhen bourse

08:34, June 17, 2011      

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Photo taken on Nov. 5, 2010 shows an electric vehicle made by BYD Company Limited, at the 25th World Battery, Hybrid and Fuel Cell Electric Vehicle Symposium & Exposition in Shenzhen, south China's Guangdong Province. The auto exhibition opened here Friday, showing some 220 electric and hybrid vehicles, made by over 60 carmakers worldwide. China's domestic carmakers play an important role in the expo. (Xinhua/Qin Haishi)

BYD Co. Ltd., the Chinese car maker backed by U.S. 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.

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