A few days ago, there was rumor that Samsung will spend 500 billion won (about 3 billion RMB) purchase of 4% stake in Chinese carmaker BYD. But then the company says, are negotiating, it has not been determined. And now, this rumor officially settled.
According to the latest news, BYD said in a statement last night, the company completed a non-public offering of 252 million common shares, price of 57.40 Yuan per share, plans to raise total funds 14.473 billion yuan. Among them, Shanghai Samsung semiconductor company (Samsung Electronics semiconductor sales legal entity in China) subscribe 52.26 million shares, a total 3 billion yuan, will hold its total share capital after the private placement completed in 1.92%, making the Nineth-largest shareholder in BYD.
Bulletin also shows that raising money will be used to power lithium-ion batteries expansion project, new energy research and development projects, as well as additional working capital and to repay bank borrowings. MIU MIU iPhone 5 Case
News that BYD will be increased at the end of last year has already obtained the SFC approval, but the subscription object is uncertain. Judging from the report disclosed July subscription starting "ice", and eventually issue other than Samsung semiconductor in Shanghai, there are 5 other subscription agencies, including State investment, advanced manufacturing industry investment fund, the Jianxin fund management limited liability company, China life insurance security fund management, Societe Generale global fund management and fund management limited liability company.
Reasons for participation for Samsung, BYD pointed out that the main firm confidence is based on the company's long-term prospects, as well as in the future, strategic cooperation in the field of electric auto parts. Will jointly hold future global electric-great opportunity for rapid development, promoting the development of electric vehicle business continued on both sides. MIU MIU iPhone 5 Case
Analysts said Samsung Electronics in recent years active layout field of in-car entertainment, navigation and automatic transmission, Samsung and is expected to further enhance the BYD BYD's cooperation in the research and development of Intelligent drive technology, while Samsung seize the opportunities of the rapid development of China's new energy automobile industry. In addition, Samsung SDI is the world's leading producer of ternary lithium-ion batteries, BYD lithium battery and still have a chance in the future areas of cooperation.
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