SHANGHAI (Reuters) - BYD Co Ltd , the Warren Buffett-backed Chinese carmaker, plans to sell new stocks worth as much as 20 percent of its Hong Kong-listed shares, Bloomberg reported on Thursday, citing unidentified sources.
The firm's Hong Kong-traded shares fell 4.6 percent by midday and its mainland-listed shares declined 2.5 percent.
BYD has submitted an application for the plan to China's securities watchdog and could raise an estimated HK$7.61 billion through the share sale, the report said.
A BYD spokeswoman declined to comment when contacted by Reuters.
(Reporting by Samuel Shen and Kazunori Takada)
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| 611,244 USD | +1.18% | +0.52% | 865B | ||
| 210.1 CNY | -1.62% | -0.22% | 82.14B | ||
Warren Edward Buffett is an American businessperson who has been at the head of 6 different companies. Presently, Mr. Buffett occupies the position of Chairman & Chief Executive Officer of Berkshire Hathaway, Inc. and Chairman & Chief Executive Officer for Berkshire Hathaway Life Insurance Company of Nebraska, Chairman & Chief Executive Officer for General Reinsurance AG, Chairman & Chief Executive Officer for Berkshire Hathaway Assurance Corp., Chief Executive Officer at Berkshire Hathaway, Inc. (Investment Management) and Manager of Burlington Northern Santa Fe LLC (which are all subsidiaries of Berkshire Hathaway, Inc.). Mr. Buffett is also Trustee at Bill & Melinda Gates Foundation Trust, Principal at West End Capital Management (Bermuda) Ltd. and Member of American Academy of Arts & Sciences and on the board of 5 other companies. Mr. Buffett previously was Chairman of Justin Brands, Inc. Mr. Buffett received an undergraduate degree from the University of Nebraska and a graduate degree from The Trustees of Columbia University in The City of New York.
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| BERKSHIRE HATHAWAY INC. | Chief Executive Officer |
Berkshire Hathaway Life Insurance Company of Nebraska
 Berkshire Hathaway Life Insurance Company of Nebraska Life/Health InsuranceFinance Berkshire Hathaway Life Insurance Co. of Nebraska provides life insurance services. It provides retirement planning products and personal quotes through its web site. The firm also offers excess personal umbrella insurance through a property and casualty affiliate. The company is headquartered in Omaha, NE. | Chief Executive Officer |
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