Shenzhen stock exchange has suspended its registration of an initial public offering (IPO) application by Chinese automaker BYD Co Ltd‘s chip unit in China, according to a filing on the exchange dated Sept. 30.
BYD Semiconductor needs to update its listing application with its latest financial reports, the filing said.
The company aims to raise 2 billion yuan ($281.22 million) to fund projects and replenish capital, according to its prospectus.
Reuters