Most Popular
-
1
Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
-
2
Wealthy parents ditch Korean passports to get kids into international school
-
3
Man convicted after binge eating to avoid military service
-
4
First snow to fall in Seoul on Wednesday
-
5
Industry experts predicts tough choices as NewJeans' ultimatum nears
-
6
Final push to forge UN treaty on plastic pollution set to begin in Busan
-
7
Nvidia CEO signals Samsung’s imminent shipment of AI chips
-
8
Korea to hold own memorial for forced labor victims, boycotting Japan’s
-
9
Opposition chief acquitted of instigating perjury
-
10
Job creation lowest on record among under-30s
US investor BlackRock said Wednesday it has increased its stake in South Korea‘s largest banking group KB Financial Group to 6.02 percent, from 5.01 percent in May 2014.
According to the disclosure, BlackRock Fund Advisors and 14 specially related entities had net bought a combined 314.8 billion won ($275.4 million) worth of shares in KB Financial over the past seven years. As a result, BlackRock was holding some 25 million shares out of KB Financial’s total 415.8 million outstanding shares.
BlackRock reaffirmed that it does not intend to influence KB Financial’s management through its investment.
BlackRock first emerged as a blockholder of KB Financial after its acquisition of Barclays Global Investors in 2009. It unloaded KB Financial‘s securities in 2010 and resurfaced as a blockholder in 2014.
Along with BlackRock, the National Pension Service is a major shareholder of KB Financial with some 10 percent of voting rights.
By Son Ji-hyoung (consnow@heraldcorp.com)
According to the disclosure, BlackRock Fund Advisors and 14 specially related entities had net bought a combined 314.8 billion won ($275.4 million) worth of shares in KB Financial over the past seven years. As a result, BlackRock was holding some 25 million shares out of KB Financial’s total 415.8 million outstanding shares.
BlackRock reaffirmed that it does not intend to influence KB Financial’s management through its investment.
BlackRock first emerged as a blockholder of KB Financial after its acquisition of Barclays Global Investors in 2009. It unloaded KB Financial‘s securities in 2010 and resurfaced as a blockholder in 2014.
Along with BlackRock, the National Pension Service is a major shareholder of KB Financial with some 10 percent of voting rights.
By Son Ji-hyoung (consnow@heraldcorp.com)
