Berkshire Hathaway sells $39.8 million of shares in China’s BYD By Reuters


BEIJING (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) has sold 1.3 million Hong Kong-listed shares of EV maker BYD (SZ:) for HK$310.5 million ($39.8 million), a stock exchange filing showed on Monday.

© Reuters. FILE PHOTO: A person walks next to BYD Seal car in a BYD Auto company and Autotorino store in Milan, Italy, March 20, 2024. REUTERS/Claudia Greco/File Photo

Berkshire’s holdings in BYD’s issued H-shares were lowered to 6.90% from 7.02% following the sale on June 11, according to the filing with the Hong Kong stock exchange.

BYD is one of the investment conglomerate’s few non-U.S. investments. It was finalized in 2008, though Berkshire began reducing that stake in 2022.





Source link