BlackRock no longer significant Meridian shareholder

Tue, 20 Apr 2021

The world’s largest fund manager is no longer a significant shareholder in Meridian Energy after selling 100 million shares on Friday.BlackRock told the NZX that its stake in the renewable electricity firm had fallen to 3.3% from 7.1% after selling 98.7 million shares at $6.05 on Friday in a series of trades worth just under $600m.The sell-down was triggered by S&P Dow Jones adding an additional 51 stocks into the index that had directed BlackRock’s money into New Zealand, although data shows the flow of money had slowed prior t...

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