BlackRock spent $210m on Meridian shares

Wed, 27 Jan 2021

BlackRock spent about $210 million buying 26 million Meridian Energy shares in the past month, paying as much as $9.50 per share, as a wave of clean energy investment overwhelmed the local market. A significant shareholder notice, posted on Tuesday, revealed the world’s largest fund manager bought more than 1 percent of all Meridian shares on issue between Dec. 22 and Jan. 22, driving the price through the roof.During that one-month period, the share price climbed more than 20 percent, from $6.70 to $8.08, spiking at $9.94 immediate...

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