Less Than 1% of BYD Shares Bought for Employee Stock Ownership Plan; Shares Down 3%

MT Newswires Live11-28

About less than 1% of BYD's (SHE:002594, HKG:1211) shares were acquired under its employee stock ownership plan, according to a Shenzhen Stock Exchange filing on Wednesday.

A total of 664,755 shares, representing 0.0228% of the carmaker's total share capital, were bought at 296.60 yuan per share or for a total of 197.2 million yuan.

The employee stock ownership plan will run for 72 months, with the target stocks being unlocked in five phases.

The company opened a special securities account for the plan at the China Securities Depository and Clearing's Shenzhen branch.

The company's Hong Kong shares dropped over 3% and Shenzhen fell less than 3% in recent trade.

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