08
Dec
08:54
Chengxin Lithium confirms receiving CNY 2 billion subscription fund from BYD
Shenzhen-listed Chengxin Lithium Group confirmed receipt of the CNY 2 billion ($286.81 million) subscription funds from Chinese automaker and battery company BYD.
According to Chengxin Lithium's announcement, BYD is the only subscriber for this capital increase. The issuance volume is of roughly 46.63 million shares at the price of CNY 42.99/share. After this capital increase, BYD will hold an over 5% stake in Chengxin Lithium, Kallanish reports.
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