Chinese automaker BYD Co, backed by Warren Buffett's Berkshire Hathaway Inc, plans to raise up to $1.9 billion in a share offering in the Chinese mainland, IFR reported on Tuesday, citing a source familiar with the plans.
The private placement aims to raise between 10 billion yuan ($1.61 billion) and 12 billion yuan, with a placement proposal out in early June, added IFR, a Thomson Reuters publication.
Shares of BYD, which makes hybrid and electric vehicles, were halted in Shenzhen on Monday at the company's request after it unveiled plans for a possible private placement.
