Global giant keen on SkyCity

Last updated 12:51 15/01/2014
SKC 3.940 0.06 1.55%
SKC

Click for a detailed chart

Relevant offers

Industries

Dancing Sands toasts success from Kiwi products Top of the south working group advocates seek focus in fishery preservation 1MBD scandal: Judge allows Malaysian businessman tussling for $370m in seized assets to take control of NZ trusts Z Energy to help get curious drivers behind the wheel of an EV BNZ internet banking outage: Customers unable to bank online Quirky QT hotel brand coming to Queenstown More than 500 job losses as more Pumpkin Patch stores to close Rolls-Royce emerges tarnished, but lucky despite NZ$1.15b fine Donald Trump's appointment of Xero's Chris Liddell: Does NZ not care about the values of its business leaders? Investigations but no progress on Christchurch-Dunedin passenger train, KiwiRail says

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