Live Updates > Live Update Details
2025-07-29 09:13:34
[Buffett's Berkshire will sell one-third of VeriSign shares] VeriSign said on Monday that Berkshire Hathaway will sell one-third of its more than $4 billion stake in VeriSign. VeriSign, headquartered in Reston, Virginia, said the purpose of selling 4.3 million shares is to reduce Berkshire's shareholding to below 10%, a threshold that triggers regulatory obligations. According to the prospectus, Berkshire's shareholding will drop to 9.6% after the sale, and Buffett's company may sell another 515,032 shares to meet demand. VeriSign will not receive any proceeds from the sale. Regulatory documents show that as of March 31, Berkshire held 13.29 million shares of VeriSign, accounting for about 14.2% of the company. Based on VeriSign's closing price of $305.98 on Monday, the value of these shares is about $4.07 billion. When Berkshire began buying, VeriSign's share price was less than one-sixth of this level. VeriSign fell 6% to $287.77 in after-hours trading. Berkshire, which had $347.7 billion in cash at the end of March, had sold stocks for 10 consecutive quarters before that month. Still, Berkshire began adding to its VeriSign stake as early as January. Berkshire's small investments in technology-related companies are often led by Buffett's portfolio managers Todd Combs and Ted Weschler. JPMorgan Securities underwrote the VeriSign stake sale.
