Berkshire Hathaway is continuing its reduction of the number of shares it owns in Chinese automaker BYD. Berkshire sold 5.78 million of BYD’s Hong Kong-listed shares on November 8, according to its latest stock exchange filing.
The latest sale reduces Berkshire’s stake in BYD to 16.62 percent.
Berkshire first began trimming its stake in BYD in mid-July, and just last week, Berkshire sold 3.297 million Hong Kong-listed shares.
In 2008, Berkshire Hathaway bet on BYD’s potential, purchasing 225 million shares for $232 million.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.