Berkshire Hathaway has put another 330 million into Bending Spoons, the Italian technology company, according to la Repubblica. The investment pushed the firm's total backing from Berkshire to close to one billion, Corriere della Sera reported.
News of the fresh funding sent Bending Spoons shares up sharply on the Nasdaq. Il Sole 24 ORE put the gain at 52%, while Corriere della Sera reported a rise of 50%.
The reports describe the move as a strong market debut for the Italian tech company's stock. Berkshire's expanded position was the trigger for the jump, according to the Italian outlets.
Coverage of the deal also reached beyond the two companies. Milano Finanza reported that Jefferies raised its target price and dividend estimates for Tamburi Investment Partners following Bending Spoons' IPO. Investing.com reported that Mizuho maintained its target on Bending Spoons after Berkshire's support was confirmed.
The reports did not give further detail on the terms of Berkshire's additional investment or on how the proceeds will be used.
What to watch next: whether Bending Spoons discloses how it will deploy the new capital, and whether the share price holds its gains once the initial reaction to the Berkshire news settles.