Warren Buffett’s Berkshire Hathaway (BRK-A, BRK-B) has continued trimming its large stake in Chinese automaker BYD (1211.HK), according to a filing listed today with the Hong Kong Stock Exchange. As reported by Reuters, the filing states that Berkshire Hathaway unloaded 3.297 million Hong Kong-listed shares of BYD, netting $71.35 million in proceeds. Following the sale, Berkshire’s stake in BYD dropped to 17.92% from 18.22%, still keeping Berkshire a large shareholder. However, today’s… Source link
Read More »BYD Sinks as Buffett Trims Stake, Daiwa Predicts Full Exit
(Bloomberg) — Traders offloaded more shares of BYD Co. on Monday after a second filing showed Warren Buffett’s Berkshire Hathaway Inc. had further trimmed its stake in the company. Most Read from Bloomberg The Chinese automaker’s stock dropped as much as 6.8% to the lowest level since May 10 in Hong Kong. The selloff extended the shares’ losses to almost 30% since a BYD stake that matched Berkshire’s stake appeared in Hong Kong’s clearing and settlement system in July. Berkshire’s… Source link
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