Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) has reportedly divested its 2.5% holding in India's Paytm, selling the stake in the digital payment company through a block deal.
BH International Holdings, associated with Berkshire Hathaway, executed the sale of 15.6 million shares of One 97 Communications Ltd., Paytm's parent company, through a single block trade shortly after the opening of trading on India's National Stock Exchange, according to a news report by Bloomberg. Paytm is backed by Softbank Group Corp SFBQF.
The shares were sold at 877.20 rupees ($10.52) each, bringing the seller about 14 billion rupees ($167.94 million), according to terms of the deal seen by Bloomberg.
Before Paytm's initial public offering in 2021, the investment was valued at 21.7 billion rupees, as stated in its IPO documents, the report read.
Copthall Mauritius Investment Ltd. acquired 7.6 million shares, and Ghisallo Master Fund LP purchased 4.3 million shares, Bloomberg noted.
Price Action: BRK/B shares are trading lower by 0.01% to $361.76 on the last check Friday; BRK/A shares are trading lower by 0.15% to $548,712.50.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Paytm
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