The company plans to list on the Nasdaq stock market under the symbol DADA. However, no pricing terms were disclosed. Goldman Sachs (Asia), BofA Securities, and Jefferies are the joint underwriters on the deal.
The company said it received a notice from its controlling shareholder FAW Group, which said FAW Group was working on major issues related to the company.
The company, founded in 1992 by Mick Rath in the West Yorkshire village of Honley, is looking to boost its export business and has set its sights on China.
The company held its BYD Worldwide Developer Conference in Shenzhen on Wednesday, the first of its kind in the industry. It launched its car app platform D++ at the event.
The company's sales revenue and profits rose 29.3 percent and 15.3 percent year-on-year, respectively in 2017.
The company said almost all production capacity in China has resumed normal production and supply to the market.
网络优化排名
The company last year?added hundreds of Whole Foods items to AmazonFresh, its own grocery delivery service that launched more than a decade ago, after the acquisition. There is also now a Whole Foods online storefront on Amazon’s website.
The company will operate a fleet of 40 vehicles in a manned autonomous driving test area covering 700 kilometers of road, with routes including residential and business areas in Yizhuang, Haidian and Shunyi districts.
The company will host its investor day on Wednesday and is scheduled to report fourth-quarter sales and earnings on Feb 25. Its shares closed roughly flat on Tuesday.
The completion of Kariba expansion and implementation of the vast Hwange Thermal Power project will greatly boost Zimbabwe's power supplies and help the country, which faces perennial power shortages, be energy self-sufficient.