A girl walks previous a BYD signal on the second media day for the Shanghai auto present in Shanghai, China April 17, 2019. REUTERS/Aly Tune

SHANGHAI, Aug 30 (Reuters) – Berkshire Hathaway Inc, the funding agency owned by Warren Buffett, has offered 1.33 million Hong Kong-listed shares of BYD , the most important Chinese language electric-vehicle maker, for round HK$370 million ($47.15 million), in accordance with a submitting.

Berkshire decreased its holding to 19.92% from 20.49% of BYD’s whole issued H shares after the sale，the submitting on Hong Kong Inventory Trade confirmed on Tuesday.

BYD and Berkshire didn’t instantly reply to requests for remark.

The submitting is the primary affirmation after market hypothesis Buffett’s firm was lowering its multi-billion-dollar stake in BYD, which greater than tripled its first-half revenue from a yr earlier.

A 225 million share BYD stake entered Hong Kong’s Central Clearing and Settlement System final month, with Citigroup Inc serving as custodian, prompting the chatter. learn extra

Berkshire acquired 225 million BYD shares in 2008, giving it a 7.73% stake, or 20.49% of BYD’s H shares, in accordance with BYD’s annual report. Berkshire has stated it paid $232 million for the shares.

($1 = 7.8476 Hong Kong {dollars})

Reporting by Zhang Yan, Brenda Goh and Hong Kong Newsroom; Modifying by Alex Richardson, Kirsten Donovan

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