China's BYD shelves IPO plan for semiconductor unit

China's BYD shelves IPO plan for semiconductor unit

BYD, China's biggest carmaker by market valuation, is looking to list its chipmaking arm in Shenzhen. © Getty Images

Chinese automaker BYD Co Ltd said on Tuesday it had scrapped plans to list its semiconductor unit in China, saying a move to increase investments in wafer production would significantly affect the unit‘s asset structure.

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