TMTPOST -- Chinese electric vehicle giant BYD Co. has raised HK$43.5 billion ($5.6 billion) in Hong Kong’s biggest share sale since 2021. The company sold 129.8 million shares at HK$335.20 each, representing a 7.8% discount to Monday’s closing price. The final pricing, confirmed in deal terms, aligns with the lower end of the marketed range, as initially reported by Bloomberg News. Bloomberg calculations indicate that BYD’s offering was upsized by 10% from the originally planned 118 million shares. Following the sale, the stock dropped 7.5% in early Tuesday trading. This transaction marks Hong Kong’s largest share sale since Meituan’s $10 billion fundraising in 2021. It also signals growing optimism for a rebound in Chinese equity offerings after years of decline. The fundraising follows BYD’s strong performance, with over 318,000 electric and hybrid passenger vehicles sold last month—a 161% year-on-year increase. Overseas sales also hit a record 67,025 units, further cementing the company’s global expansion.