March 15, 2013 / 8:11 AM / in 5 years

Buffett-backed BYD denies report it plans to sell shares

HONG KONG, March 15 (Reuters) - Chinese auto maker BYD Co Ltd, invested by Warren Buffett’s Berkshire Hathaway Inc., denied a news report on Friday that the company plans to sell new Hong Kong-traded shares.

“I have checked and we don’t have such a plan,” Veronica Jiang, a spokeswoman for BYD based in Shenzhen, told Reuters.

Bloomberg quoted two unnamed sources on Friday as saying BYD planned to sell new shares equivalent to as much as 20 percent of its Hong Kong-traded stock.

BYD’s shares closed down nearly 8 percent on Friday, lagging a 0.4 percent drop in the Hang Seng index.

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