Buffett’s Berkshire sells one-third of VeriSign stake for $1.23 billion

Berkshire Hathaway sold about one-third of its stake in VeriSign, an internet infrastructure and domain name registry company that Warren Buffett’s conglomerate has invested in since 2012, VeriSign said on Monday.

The sale of 4.3 million VeriSign shares at $285 each generated gross proceeds of about $1.23 billion, reducing Berkshire’s ownership stake to 9.6% from 14.2%.

Buffett’s company may sell an additional 515,032 shares to meet demand, and VeriSign will receive no proceeds from the sale, VeriSign said.