US BlackRock takes 5% stake in Fletcher Building

Mon, 23 Mar 2015

By Suze Metherell March 24 (BusinessDesk) - US fund manager BlackRock, which manages more than US$4.7 trillion in assets worldwide, has built up a 5 percent stake in Fletcher Building. The US fund manager declared it held 34.4 million shares, or 5.005 percent, of the Auckland-based construction and building supplies firm through various related companies, according to substantial shareholder notice lodged with the NZX. The notice covers trading in the shares starting in November, and includes purchases at prices ranging from $8.04 to $8.9...

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