GUANGZHOU -- Warren Buffett-led Berkshire Hathaway has sold more shares in Chinese EV giant BYD, according to a Monday filing on the Hong Kong Stock Exchange, as the U.S. investment company has gradually reduced its stake from about 20% to less than 5%.
Berkshire sold 1,395,500 shares, equivalent to about 340 million Hong Kong dollars ($43.6 million) based on an average share price. Its stake in BYD fell 0.1 percentage points to 4.94%. The Hong Kong exchange does not require disclosures for stock transactions once a shareholder's stake drops below 5%.
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