Chinese car maker BYD is seeking to raise around $219 million in a Shenzhen IPO, The Wall Street Journal reports. The Hong-Kong listed company is offering up to 79 million shares at a price of $2.77 per unit. The proceeds will be used for investment in a lithium battery production project, establishment of a research and manufacturing center and for the expansion of its auto unit projects. The share sale is being managed by UBS.

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