not vested
<Research Report>BYD COMPANY's sale of non-core business positive; rated Buy - Nomura
Nomura, in its latest report, said that BYD COMPANY (01211.HK) intended to dispose of its electronic components business to Holi Tech at a maximum consideration of RMB2.3 billion.
Upon completion, the group will record an asset disposal gain of RMB1.629 billion, being the second-largest shareholding of Holi Tech.
The research house believed that the raised funds will be used as capex for EV and battery capacity expansion.
The move is positive as shareholders will not need to worry about near-term share dilution.
The rating of BYD Company was reiterated at Buy, while the target price remained constant at $64.
Source: AAStocks Financial News