BlackRock Becomes Second-Largest Shareholder in HLB with 5.01% Stake

BlackRock, the world's largest asset manager, has become the second-largest shareholder in HLB (028300) with a 5.01% stake.

According to the Financial Supervisory Service's electronic disclosure system on the 3rd, BlackRock Fund Advisors, a BlackRock affiliate, disclosed that it holds a total of 6,664,921 shares (5.01%) of HLB through market purchases together with related parties. The company cited "simple investment purposes" as the reason for acquiring the stake.

None of the funds or clients managed by BlackRock Fund Advisors and its related parties individually owns more than 5% of HLB shares.

BlackRock Fund Advisors is now the second-largest shareholder in HLB, following Jin Yang-gon, HLB's Chairman of the Board, who is the largest shareholder. As of the end of the third quarter last year, Chairman Jin held a 7.23% stake in HLB. Including affiliates and relatives, the combined stake amounts to 9.54%.

BlackRock Fund Advisors recently also disclosed a 5.00% stake in SK Hynix.

An HLB official said, "BlackRock appears to have judged that HLB's future value will increase," adding, "We believe they acquired the stake in anticipation of major events, including U.S. Food and Drug Administration (FDA) approval of the liver cancer drug 'Rivoceranib.'"