HONG KONG (Reuters) – Chinese automaker BYD Co Ltd’s on Tuesday said it has scrapped plans to list its chip unit in China, according to a filing on Shenzhen stock exchange.
The termination of the plan will not have a significant adverse impact on the company’s existing production and operation activities, it added.
According to the prospectus, the chip unit aimed to raise 2 billion yuan ($281.22 million) to fund projects and replenish capital.
(Reporting by Twinnie Siu; Editing by Louise Heavens)
