OMAHA, Neb. — Warren Buffett’s business has cut its stake in Chinese electrical carsandtruck and battery maker BYD for the veryfirst time consideringthat it purchased the shares in 2008, an financialinvestment that has skyrocketed in worth.
Berkshire Hathaway stated in a regulative filing Tuesday with the Hong Kong stock exchange that it had offered 1.33 million of its BYD shares for approximately $47 million ($368.8 million Hong Kong dollars).
Berkshire paid $232 million for the 225 million BYD shares it purchased in2008 By the end of last year, the worth of those shares had swelled to almost $7.7 billion. The success of the BYD financialinvestment is one example of why so numerous financiers follow Buffett’s moves carefully because he has a incredibly effective track record over the years.
BYD stated in an revenues report this week that sales of its cars continued to climb in the veryfirst half of this year and assistance it in