Warren Buffett invests in BYD's H shares for HK $4.2 billion
Source: Internet
Author: User
KeywordsStock price Hong Kong dollar
September 29, 2008, the U.S.-China Energy Holdings, a subsidiary of Warren Buffett, subscribed to 225 million shares of BYD at HK $8 per share, accounting for about 10% of BYD's shares. As of yesterday's close, BYD's shares, which were HK $26.7, rose 233.7% per cent from Buffett's subscription price, and in proportion, Buffett's investment in BYD's H shares, although not yet approved by China's regulatory authorities, has been "buoyant" for HK $4.2 billion. This invites the Taiwan's richest man, Taiwan's Hon Hai Group President Terry Gou. In an interview on May 3, Mr. Gou asked Buffett three questions, questioning Mr. Buffett's vision of investing in BYD. Mr Gou is said to have been speculating in the field of electric car batteries. In the mobile phone battery sector, Guo's Foxconn and BYD are "old rivals."
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