Asset manager BlackRock is Yangzijiang Shipbuilding’s latest substantial shareholder, the maritime vessel maker announced in a bourse filing on Tuesday, the Business Times reported.
The filing stated that BlackRock on Jan 3 acquired 10.8 million shares of Yangzijiang Shipbuilding for an unknown amount of consideration.
With the purchase, BlackRock’s deemed interest in Yangzijiang Shipbuilding was lifted to about 203.2 million shares or a stake of 5.14 per cent, from about 192.5 million shares or a stake of 4.87 per cent previously.
Yangzijiang Shipbuilding shares closed up 4.4% on Wednesday.
Yangzijiang Shipbuilding was one of the top-performing stocks on the Singapore Exchange in 2024, delivering total returns of 100.7 per cent.
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