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home / news releases / BYDDY - BYD abandons semiconductor segment spinoff

BYDDY - BYD abandons semiconductor segment spinoff

BYD Co Ltd ADR

The most popular EV manufacturer in China, BYD Company ( OTCPK:BYDDY ), has canceled plans to list its semiconductor segment as a separate company, per filings with the Shenzhen exchange.

The board of the automaker scrapped the plans due to inopportune dynamics in the semiconductor industry. The spinoff of the chip unit may be revisited in the future, however.

Shenzhen-listed shares of the automaker rose modestly on Tuesday, ticking about 1.22% higher in the day’s trading.

Read more on Warren Buffett’s move to trim his stake in the company .

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BYD abandons semiconductor segment spinoff
Stock Information
Company Name: BYD Co Ltd ADR
Stock Symbol: BYDDY
Market: OTC
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