Fidelity Int'l cuts stake in BYD

Published: 06 Nov 2009 01:17:38 PST

More From ChinaKnowledge.com

Nov. 6, 2009 (China Knowledge) - U.S.-based investment company Fidelity International Ltd on Nov. 2 cut its shareholding in China's BYD Co<1211> to 4.95% from the previous 5.04%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.

Information from the HKEx showed that FIL sold 713,700 shares of Shenzhen-based BYD on Monday for a total of US$6.83 million. The average price of the share transaction was US$9.58 apiece.

On Oct. 30, FIL bought 464,500 shares of BYD for a total of US$4.38 million at US$9.42 per share, raising its stake in the Chinese company to 5.04% from the previous 4.98%, according to an earlier report from China Knowledge.

Shares of BYD fell 1.1% to end at HK$72.2 yesterday.