BlackRock, the world’s largest asset manager, has acquired a 5.01% stake in HLB.
HLB announced on Tuesday that BlackRock purchased a total of 6,664,921 shares (5.01%). BlackRock Fund Advisors stated the purpose of the shareholding is purely for investment purposes.
With this acquisition, BlackRock Fund Advisors has become the second-largest shareholder, following Chairman Jin Yang-gon of HLB, who is the largest shareholder.
As of the end of the third quarter last year, Chairman Jin held a 7.23% stake in HLB. Including affiliates and related parties such as relatives, his total stake stands at approximately 9.54%.
No single fund or client managed by BlackRock Fund Advisors or its affiliates holds more than 5% of HLB shares.
An HLB official stated that it appears BlackRock judged that the future value of the liver cancer drug will increase.