News Snapshot:
Chinese regulatory scrutiny has come to haunt companies across sectors and the latest to suffer from the increased oversight is Warren Buffett-backed EV manufacturer BYD Company Limited (OTC: BYDDF ). What Happened: China’s BYD is forced to suspend the proposed listing of its chip making arm due to a regulatory probe into the law firm advising the company, the Nikkei reported. In May, BYD applied for listing its automotive microcontroller chip-making-unit on the Shenzhen Stock Exchange-supervised ChiNext, the report said. The company sought to raise $412 million from the offering . Despite the IPO application receiving approval in June, the...
