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Warren Buffett's Berkshire Hathaway Further Cuts Stake in China's BYD

February 09, 2023 at 05:48 am EST

By Yifan Wang

Warren Buffett has further trimmed his holdings in BYD Co., the Chinese electric-car maker that has challenged Tesla Inc. and grown to be one of the world's most valuable auto companies.

Berkshire Hathaway Inc., the giant investment manager founded by Mr. Buffett, has sold 4.235 million of BYD's Hong Kong-listed shares, a filing on the Hong Kong stock exchange showed Thursday.

The sale, which took place Friday, was completed at an average price of 257.90 Hong Kong dollars (US$32.85) a share, according to the filing. That implies a total transaction value of about HK$1.09 billion.

After the share sale, Berkshire's holdings in BYD's issued H-shares has fallen to 11.87% from 12.26%, the filing showed.

The stake reduction was the latest in a string of share sales by Berkshire to reduce its holdings in BYD.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

02-09-23 0548ET

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BERKSHIRE HATHAWAY INC.	629,375 USD	+0.68%	+1.19%	901B
BYD COMPANY LIMITED	222.6 HKD	+0.36%	-0.36%	86.24B
TESLA, INC.	177.5 USD	+1.50%	+5.34%	566B
HONG KONG HANG SENG	19,554 PTS	+0.91%	+3.11%	-

Warren Buffett

Warren Edward Buffett is an American businessperson who has been at the head of 6 different companies. Presently, Mr. Buffett occupies the position of Chairman & Chief Executive Officer of Berkshire Hathaway, Inc. and Chairman & Chief Executive Officer for Berkshire Hathaway Life Insurance Company of Nebraska, Chairman & Chief Executive Officer for General Reinsurance AG, Chairman & Chief Executive Officer for Berkshire Hathaway Assurance Corp., Chief Executive Officer at Berkshire Hathaway, Inc. (Investment Management) and Manager of Burlington Northern Santa Fe LLC (which are all subsidiaries of Berkshire Hathaway, Inc.). Mr. Buffett is also Trustee at Bill & Melinda Gates Foundation Trust, Principal at West End Capital Management (Bermuda) Ltd. and Member of American Academy of Arts & Sciences and on the board of 5 other companies. Mr. Buffett previously was Chairman of Justin Brands, Inc. Mr. Buffett received an undergraduate degree from the University of Nebraska and a graduate degree from The Trustees of Columbia University in The City of New York.

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Berkshire Hathaway, Inc. (Investment Management) Berkshire Hathaway, Inc. (Investment Management) Investment ManagersFinance Berkshire Hathaway, Inc. (Investment Management) (BHI-IM) is the asset management division of Berkshire Hathaway, Inc. (NYSE: BRK), an American multi-national conglomerate headquartered in Omaha, Nebraska. The firm was founded in 1955 and traces its roots to Valley Falls Company, a textile manufacturing company that was formed in 1839. In 1962, Warren Buffett started to acquire shares of the company until he had majority ownership of it. Berkshire Hathaway engages in insurance businesses conducted on both a primary basis and a reinsurance basis.	Chief Executive Officer
BERKSHIRE HATHAWAY INC.	Chief Executive Officer

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