Tags: Buffett | BYD | Hong Kong | Stock

Buffett’s BYD Said to Plan Sale of Up to 20% of Hong Kong Stock

Friday, 15 Mar 2013 05:39 PM


BYD Co., the Chinese automaker partially owned by Warren Buffett’s Berkshire Hathaway Inc., plans to sell new shares equivalent to as much as 20 percent of its Hong Kong-traded stock, said two people with knowledge of the matter.

BYD hired Deutsche Bank AG and UBS AG to arrange the sale and the company’s board may approve the plans next week, said one of the people, who asked not to be identified because the proposal hasn’t been made public. Based on Thursday’s close, the sale would be worth as much as HK$4.17 billion ($538 million), according to data compiled by Bloomberg.

Veronica Jiang, a Shenzhen-based spokeswoman, said she couldn’t immediately comment.

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved