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Sep 03, 2022 03:10 AM
BUSINESS

Buffett’s Berkshire Offloads More Shares of BYD

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. further trimmed its stake in BYD Co., offloading another 1.72 million shares as of Sept. 1, according to an exchange filing Friday. Just days earlier the legendary American investor began reducing his holding in China’s biggest maker of electric vehicles.

Berkshire’s stake in BYD’s Hong Kong-traded shares is now down to 18.87% from 19.02%. The latest securities sold for an average of HK$262.72 apiece, giving the stake a value of around HK$450.8 million ($57.5 million). That takes Berkshire’s total of shares jettisoned to 3.05 million, or 1.4% of Buffett’s known 225 million-share holding.

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