Warren Buffett's investment firm, Berkshire Hathaway, has sold 2.48 million Hong Kong-listed shares of electric vehicle maker BYD for HK$539.93 million (US$68.78 million), according to a stock exchange filing.
The sale on March 31 reduced Berkshire's holdings in BYD's issued H-shares to 10.90% from 11.133%, according to a filing to the Hong Kong stock exchange on Tuesday (Apr 11).
Berkshire Hathaway Inc. is an American multinational conglomerate holding company based in Omaha, Nebraska. Its primary business and source of capital is insurance, and the float is invested in a diverse portfolio of subsidiaries, equity positions, and other securities.
BYD Co. Ltd. is a publicly traded Chinese manufacturing conglomerate headquartered in Shenzhen, Guangdong, China. Wang Chuanfu founded it in February 1995. BYD Auto and BYD Electronic are the company's two major subsidiaries.
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