Buffett-backed BYD opens up 22 pct after $219 mln China IPO

Newswire

SHANGHAI, June 30 (Reuters) - Shaers of BYD Co Ltd , the Chinese automaker backed by U.S. billionaire Warren Buffett, opened up 22 percent after raising 1.42 billion yuan ($219 million) in its IPO in Shenzhen. BYD shares were traded at 22.00 yuan a share at the open, compared with its IPO price of 18.00 yuan a share. The benchmark Shanghai Composite Index was up 0.13 percent. BYD's Shenzhen debut comes at a time when a record number of IPOs were being postponed or cancelled in Asia due ...

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