warren-buffett-to-purchase-10-of-byd

Warren Buffett to purchase 10% of BYD

The Sage from Omaha spends $230 million on a stake in the world's second largest rechargeable battery producer as the company nears completion of its first electric car.
MidAmerican Energy Holdings, a subsidiary of Warren Buffett's Berkshire Hathaway, has agreed to purchase HK$1 8 billion ($230 million) of shares in Hong Kong-listed BYD Company, the world's second largest producer of rechargeable batteries MidAmerican will subscribe to 225 million new H-shares at a price of HK$8 per share, representing a discount of 4 8% to the closing price last Friday

The shares represent approximately 9 9% of BYDÆs enlarged share capital, and 28 4% of its enlarged H-share capital

The deal gave BYD's shares a massive boost Trading in the stock was suspended yesterday morning at the company's request, but resumed after lunch at which point investors jumped in to get a share of...
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