BlackRock sells 85,000 KepLand shares

[krafty]

something brewing in the back???

26 Mar11:57 AM
BLACKROCK Inc, an associate of Keppel Corp, sold 85,000 Keppel Land (KepLand) shares on Wednesday, at S$4.57 apiece.

After this transaction, BlackRock holds 37.3 million shares, representing about 2.4 per cent of the total issued shares.

The dealings were announced in a filing to the Singapore Exchange on Thursday.

Keppel Corp has secured 90.9 per cent of the total issued shares of Keppel Land as at 5pm on Wednesday. This means it has crossed the 90 per cent threshold in acceptances required to delist its real estate subsidiary KepLand.

 

[uvwxyz]

Keppel Corp intends to buy back KepLand shares with the view of delisting this counter so nothing bad is afoot.