Runner appoints Green Delta Capital to arrange Tk250cr
Runner Automobiles PLC has appointed Green Delta Capital Limited as mandated lead arranger to raise Tk250 crore through preference shares for an electric and plug-in hybrid vehicle project with BYD, the company said.
The companies formalised the appointment at a signing ceremony on 25 August attended by senior officials from both organisations and invited guests, according to a press release.
Runner is working with BYD, a new-energy vehicle manufacturer, to expand its presence in Bangladesh's growing electric vehicle market and is progressing towards the local assembly of BYD vehicles.
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Under the mandate, Green Delta Capital will advise Runner on structuring and executing the proposed preference share issue and lead the capital-raising process.
The proposed financing will support Runner's investment and expansion plans for the BYD completely knocked-down (CKD) vehicle project, including manufacturing, testing, and operational capabilities.
Runner said the local assembly initiative came as Bangladesh's automotive market gradually shifted toward electric and hybrid vehicles, supported by growing consumer interest and policy measures promoting cleaner transport.
The company expects local assembly to make new BYD vehicles more affordable and accessible to consumers in Bangladesh.
The agreement marks the beginning of the financing process for the proposed preference share issue, subject to regulatory and shareholder approvals.
