SHANGHAI (AP) — Chinese car and battery maker BYD Co. is awaiting approval from China's stock regulators for a share offering on the Shenzhen Stock Exchange aimed at raising cash for a major expansion.
The China Securities Regulatory Commission is due to review the application on Monday. BYD did not give any timetable for its initial public offering in the prospectus seen Friday on the CSRC's website.
MidAmerican Energy, a subsidiary of billionaire investor Warren Buffett's Berkshire Hathaway, has a 9.9 percent stake in BYD, which has been investing heavily in expanding its auto production capacity despite a 33 percent drop in its profit last year.
BYD has not specified …
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