Reviews: BYD Semiconductor share: Tesla competitor BYD postpones plans for the IPO of its semiconductor division

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The Chinese mixed group BYD, which is known for its electric vehicles and batteries, does not want to continue to pursue the plans for the IPO of its semiconductor division.

TANNEN MAURY/AFP/Getty Images © provided by Finanzen.net Tannen Maury/AFP/Getty Images

• Tesla competitor BYD wanted to bring semiconductor division to the stock exchange

• Shenzhen Stock Exchange stopped in August BYDS plans

• Plans for IPO for the time being, but not completely abandoned

Most people know the Tesla competitor BYD through its electric vehicles and the batteries for this. However, the company also produces other products, such as solar systems and energy storage systems as well as - which are important for the automotive industry - semiconductors that are required for chip production.

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This semiconductor division, BYD Semiconductor , wanted to bring the company to the stock exchange, but now BYD has rejected its plans - at least for the time being.

Shenzhen Stock Exchange stops BYDS plans

In the summer of this year there were problems with the BYD Semiconductor IPO. BYDS plans were stopped by the stock exchange at that time. According to the Reuters news agency, Chinese stock exchanges in August discontinued the processing of more than 40 plans for stock markets in Shanghai and Shenzhen as part of an examination of four intermediaries in the deals.

The Shenzhen Stock Exchange, as Reuters reported on official stock exchange documents, exposed more than 30 IPO plans for their startup exchange Chinext on August 18-including the request of the semiconductor division of BYD.

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BYD initially pursues stock market plans for its semiconductor division. A few days ago, BYD announced that he had rejected the stock market plans for his semiconductor division in China for the time being. According to Reuters, the company said that a step to increase investments in wafer production would significantly impair the asset structure of the division.

"BYD Semiconductor intends to use the time window to make large investments in the Wafer production capacity", Reuters quotes the company from a report to Shenzhen's stock exchange. According to BYD, the current Wafer deliveries are far from enough to cover demand in view of the rapid growth in the production of electric vehicles.

Börsenplans for BYD Semiconductor not completely abandoned

According to the electric car maker, the waiver of the planned IPO will not have any significant adverse effects on the company's existing business or the future development strategies of the group.

also explained the company that is supported by Starinvestor and

Berkshire Hathaway CEO Warren Buffett, according to Reuters that it did not completely give up its stock exchange plans for the semiconductor division, but wanted to resume the listing process of the unit if the investments and the Expansion of the production capacity are completed. According to Reuters, BYD Semiconductor, as can be seen from the IPO brochure, wanted to raise two billion yuan ($ 281 million) to finance projects and to procure capital at the Nasdaq-like Chinext of Shenzhen.

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