In a filing submitted Thursday to the US Securities and Exchange Commission, the company revealed the sale of more than 9.5 million shares, divided between three transactions that took place from Tuesday to Thursday.
This step reduces the company’s holdings to 775 million shares, or a share of about 9.987 percent.
Given that the possession ofBerkshire Hathaway“Now that it is below the basic 10 percent threshold, the company is no longer obligated to report its relevant transactions in a timely manner.
The Securities and Exchange Commission requires shareholders who own more than 10 percent of a company’s securities to report transactions involving that company’s stock within two business days.
By this October, Berkshire Hathaway’s revenues exceeded $10 billion from the sale of its stake in the second largest bank in the world. USAccording to a regulatory report issued Monday.
And it was Buffett He began reducing his huge stake in the bank in mid-July, which has put pressure on the share price ever since.
