March 28, 2014 / 10:59 AM / 5 years ago

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

SHANGHAI (Reuters) - BYD Co Ltd (002594.SZ) (1211.HK), the Warren Buffett-backed Chinese carmaker, said it has no immediate plans to sell new shares in Hong Kong.

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

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

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