21 Jun '11, 1pm

BYD Fails to Electrify Chinese Stock Market, Gets a Buffeting: Chinese electric car and battery firm Build Your

BYD Fails to Electrify Chinese Stock Market, Gets a Buffeting: Chinese electric car and battery firm Build Your

BYD e6 electric taxi in service in Shenzhen, China Enlarge Photo Chinese electric car and battery firm Build Your Dreams (BYD) has announced that its Initial Public Offering (IPO) on the Shenzhen Stock Exchange raised just $219 million, 65% of what the Warren-Buffet backed firm had hoped to raise. But was the $177 million delta between the actual money raised and what BYD had hoped to obtain down to an over-inflated evaluation, a lack of confidence in the company, or simply market conditions? In recent years, investment in green tech firms has been good, with many renewable energy and green transport firms raising significant funds through IPOs Take Californian electric automaker Tesla , for example. When the firm offered its IPO in June last year, the firm netted more than $226 million for the company, with its share price rising by 41 percent in the first day of trading....

Full article: http://www.allcarselectric.com/news/1061914_byd-fails-to-...

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