China-based electric-vehicle maker BYD wants to get an extra charge out of the public investment market. The company said last week that it will sell about $550 million worth of stock on the Hong Kong stock exchange. That'd be the largest single offering since the company went public in 2002.
In an effort to secure more capital and reduce debt, Ford plans to sell $500m in new stock. Ford will use the cash infusion to buy bonds from Ford Motor Credit, which has been struggling with the slow economy and nation-wide credit crunch. Goldman Sachs is handling the stock sale, and Ford has given no timetable for when the stocks will enter the market. Ford has already exchanged debt for equity to the tune of $927m in the past year. With shares of Ford stock at under $5 per share right now, an
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models