Warren Buffett-backed carmaker BYD says no immediate plans for share sale

Fri Mar 28, 2014 6:55am EDT
 
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SHANGHAI (Reuters) - BYD Co Ltd (002594.SZ: Quote) (1211.HK: Quote), the Warren Buffett-backed Chinese carmaker, said it has no immediate plans to sell new shares in Hong Kong.

On Thursday, Bloomberg reported that BYD planned to sell new shares worth as much as 20 percent of its Hong Kong-listed shares, and had submitted an application to China's securities watchdog.

"We do not have such a plan now," a BYD spokeswoman said on Friday. "This is pure speculation."

There have been rumors since last year about a possible BYD share issuance plan, but they are not true, she said.

(Reporting by Samuel Shen and John Ruwitch. Editing by Jane Merriman)

 
A man walks past a BYD store in Wuhan, Hubei province, March 20, 2014. REUTERS/Stringer