Global giant keen on SkyCity

Last updated 12:51 15/01/2014
SKC 4.020 0.01 0.25%
SKC

Click for a detailed chart

Relevant offers

Industries

Migrant influx will be housed, says Key TSB Bank confirms ongoing talks with shaky Solid Energy Public servants could lose out on MP pay change: Andrew Little Rocket Lab teams with US giant Lockheed Trademark fight between Mr Zogs Sexwax, Zoggs ends Blue Chip's Mark Bryers makes last trip to try to lift bankruptcy Law to change on MP pay rises Immigration may boost house prices: Treasury TVNZ sees $1 million dip in interim profit Solid Energy lenders could see more losses

The world's biggest investor has taken a 5 per cent stake in casino operator SkyCity, worth more than $111 million.

New York-listed BlackRock is an asset management leviathan, with more than US$4 trillion (NZD$4.8t) of funds under management.

Disclosure statements posted on the NZX this morning reveal the company has crept past a 5 per cent threshold in SkyCity, which requires it to disclose its holding.

It now owns 29 million shares on behalf of investors, worth about $111m at today's market price of $3.83 per share.

The holding is split between various BlackRock subsidiaries from the UK, Canada, Germany and Australia, with the bulk owned in the United States.

SkyCity shares fell 0.5 per cent in morning trading and are down 1.3 per cent over the last 12 months.

more to come

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content