· Samsung's subsidiary company subscribes for 1.92% of BYD's shares

On the evening of July 21, BYD issued an announcement. The company completed a non-public offering of 252 million shares at a price of 57.40 yuan/share, raising a total of 14.473 billion yuan. Among them, Shanghai Samsung Semiconductor Co., Ltd. subscribed for 52.26 million shares, totaling 3 billion yuan, which will hold 1.92% of the total share capital after the company's non-public offering.
The new shares of this non-public offering will be listed on the Shenzhen Stock Exchange on July 25. The restricted period of the shares subscribed by the issuer is 12 months, that is, it is not transferable within 12 months from the date of listing of the newly added shares. It is expected to be available for circulation on July 25, 2017.
BYD said that this non-public offering does not change the controlling shareholder and actual controller of the company. This time it is issued to a specific investor, which increases the proportion of institutional investors holding the company's shares, making the company's shareholding structure more reasonable and beneficial to the company. Further improvement of the governance structure will not result in changes in the issuer's control.
Shanghai Samsung Semiconductor Co., Ltd. was established in December 2001. Its predecessor was the Shanghai office of Hong Kong Samsung Electronics. It started its business in China in 1993 and is a wholly-owned enterprise invested by South Korea's Samsung Electronics Co., Ltd. in Shanghai. South Korea's Samsung Electronics has a history of nearly 30 years. It is a large-scale electronics company integrating semiconductor, communication, computer products and consumer electronics. The company is mainly engaged in the design, research and production of multimedia and household appliances, information and communication, and semiconductor products.
Earlier, South Korea's Samsung Electronics Co Ltd <005930.KS> said on July 15 that it had agreed to buy shares in Chinese automakers BYD (1211.HK) and <002594.SZ> to upgrade its electric Auto parts and smartphone components business. BYD announced on the same day that Samsung Electronics has participated in the non-public issuance of BYD A shares and the company is actively promoting. Samsung Electronics intends to participate in the non-public issuance of BYD A shares mainly based on the firm confidence in BYD's long-term development prospects, and the future Strategic cooperation in the field of electric vehicle parts. In the future, both parties will jointly grasp the huge opportunities for the rapid development of global electric vehicles and promote the sustainable development of electric vehicle related businesses.

 

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