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Buffett's Berkshire trims stake in China's BYD, a holding since 2008

Buffett's company had acquired 225 million BYD shares in 2008, giving it a 7.73% stake, equal to the 20.49% stake in H shares, according to BYD's annual report

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Reuters SHANGHAI/NEW YORK
Warren Buffett's Berkshire Hathaway Inc has trimmed its stake in BYD Co , seven weeks after prompting speculation it might sell its entire multi-billion dollar stake in the largest Chinese electric car company.
 
In a Hong Kong Stock Exchange filing, Berkshire said it sold 1.33 million Hong Kong-listed shares of BYD for about HK$370 million (US$47 million), reducing its stake in BYD's total issued H shares to 19.92% from 20.49%.
 
Tuesday's filing is the first confirmation that Berkshire has reduced its BYD investment since the 20.49% stake entered Hong Kong's Central Clearing and Settlement System on July 11, with Citigroup

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First Published: Aug 30 2022 | 8:15 PM IST

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