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Berkshire reduced its holding to 19.92% from 20.49% of BYD’s total issued H shares after the saleļ¼the filing on Hong Kong Stock Exchange showed on Tuesday.
BYD and Berkshire did not immediately respond to requests for comment.
The filing is the first confirmation after market speculation Buffett’s company was reducing its multi-billion-dollar stake in BYD, which more than tripled its first-half profit from a year earlier.
A 225 million share BYD stake entered Hong Kong’s Central Clearing and Settlement System last month, with Citigroup Inc (NYSE:C) serving as custodian, prompting the chatter.
Berkshire acquired 225 million BYD shares in 2008, giving it a 7.73% stake, or 20.49% of BYD’s H shares, according to BYD’s annual report. Berkshire has said it paid $232 million for the shares.
($1 = 7.8476 Hong Kong dollars)
