Global giant keen on SkyCity

Last updated 12:51 15/01/2014
SKC 3.880 -0.08 -2.02%
SKC

Click for a detailed chart

Relevant offers

Industries

Midwives sue Government over pay discrimination Building consents for new Auckland homes and apartments surge in July Otaki entrepreneur's award-winning wheelchair NZ dollar remains at US64c at start of calmer week 'Some industries dominated by women': John Key on midwives' pay More small NZ towns could get ultrafast broadband Council consultant to scope science research Finance diary Firms lose $150 million from workplace sick days Shopkeepers lament creative change

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