Berkshire Sells BYD Shares in China for the First Time This Year

Sold 1.05 Million Shares at 191.44 Hong Kong Dollars

[Asia Economy Reporter Jo Yujin] Berkshire Hathaway, led by Warren Buffett, is reducing its stake in the Chinese electric vehicle company BYD.

According to major foreign media on the 9th, Berkshire Hathaway disclosed that it sold 1,058,000 shares of BYD on the Hong Kong Stock Exchange on the 3rd at HKD 191.44 per share.

The sale amount was approximately HKD 205.4 million, lowering Berkshire Hathaway's stake in BYD to 13.97%.

[Image source=AP Yonhap News]

Berkshire Hathaway has been selling BYD shares it has held since 2008, continuing this trend since last year. On the 8th of last month, it sold 1.33 million shares (about 0.12%) for USD 267.69 million, reducing its stake to 14.95%.

BYD shares reached an all-time high closing price of HKD 320.80 per share on the Hong Kong Stock Exchange on July 4th last year. This represents a 3911% increase compared to the price Berkshire Hathaway paid when purchasing.

Based on the closing price of HKD 201.40 on this day, Berkshire Hathaway currently holds BYD shares worth HKD 104.6 billion.